Gift Received in Cash from Mother Rs 50000 and above

Gift of any amount through relative is not taxable as it is capital receipt.

YA HALIM IS ABSOLUTELY RIGHT

Sorry for asking this stupid question , If i get money from my parents as gift , how to get the gift certificate ? who will issue the gift certificate ?

Gift deed is noramally executed by the donor in favour of the donee. Generally following format is used:

: I................(name of the donor,fathers name  with address & PAN] confirm that out of natural love and affection I have gifted a sum of Rs .................by ch no ..../dd    no......./ cash. The amount has been withdrawn from my sb a/c  no..................with ......................(bank name etc)

I am assessed to Income Tax office at   ............................ward/range no...............

                                                                                                   Name & Address

NOT taxable.

A gift deed will be signed by you , ur parents and witnesses