Cash loan & gifts

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26 Points Posted on 21 April 2020
how much amount can take from mother in cash as per IT act as gift and loan?

( for business purpose)
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On 21 April 2020 at 22:34 Report
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This discussion clarifies the limits for cash gifts and loans received from a mother under the Income Tax Act for business purposes. While loans up to £20,000 are permissible, gifts are limited to £200,000 annually. It's confirmed that cash gifts received need to be declared in your Income Tax Return (ITR).

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12244 Points Posted on 22 April 2020
Loan amount - up-to 20k
gift - up-to 2 lakhs
1 Reply
On 22 April 2020 at 00:56
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26 Points Posted on 22 April 2020
Gift received as a cash amount 200000 per year need to show in IT return?
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On 22 April 2020 at 11:50
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"Do the Right Thing...!!!"
128162 Points Posted on 22 April 2020
Yes... It will be shown in ITR.
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On 22 April 2020 at 17:46
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2 Points Posted on 06 December 2021

You can get a payday loan. I recently get a payday loan from https://easyqualifymoney.com/ for some personal expenses.

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On 06 December 2021 at 12:55

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