If a person is a farmer he gives his son a gift of 100,000 in cash, can he give it?
what is the minimum and maximum limit of gift in cash from relatives?
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Gift from father in cash
Replies (2)
1. Yes.
2. Maximum amount by cash should be below 2 lakhs. But the donor should be able to prove its capacity along with source of the cash amount.
as per section 269ST cash transaction should not exceed 200000 ..
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