DEAR SIR / MADAM
PLEASE ADVISE ME DETAILS AS MY MARRIED SISTER LIVING IN ABROAD AND SEND A MONEY TO HER MOTHER IN CASH / FOREIGN CURRENCY TO MY MOTHER ACCOUNT GIFT / MAINTENANCE WE CAN SAY .... AS WE KNOW THIS INCOME IS EXEMPT FROM TAX I WANT TO KNOW IS ANY ANY LIMIT IN IT .
As far as Income tax act is concern, cash worth Rs. 2 lakhs or more is restricted u/s. 269ST; but also check foreign currency restriction as per RBI rules.
A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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