Gifts Deed

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54 Points Posted on 04 January 2023
Is there any limits to give n take cash Gifts....??
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On 04 January 2023 at 23:04 Report
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Quick Summary
This discussion explores the limits on giving and receiving cash gifts. While there's a general rule against receiving Rs 2 lakh or more in a day from a single person under Section 269ST of the IT Act, the consensus suggests no strict monetary cap on cash gifts, provided the source is legitimate. Exceptions may apply to blood relations.

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SEO Sai Gr. Hosp.
212503 Points Posted on 04 January 2023

Yes, need to be below Rs. 2 lakhs...

According to Section 269ST of IT act, no person can receive an amount of Rs 2 lakh or more in aggregate from a person in a day in a single transaction; or, in multiple transactions relating to one event or occasion from a person.

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On 04 January 2023 at 23:38
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Profession
28261 Points Posted on 05 January 2023
Below rs.50000
1 Reply
On 05 January 2023 at 08:03
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CA LLB
72 Points Posted on 05 January 2023

In my opinion there is no monetary cap  on receipt of gift in cash. Need to take care of source.  

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On 05 January 2023 at 11:36
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Profession
28261 Points Posted on 05 January 2023
There is except blood relation.
1 Reply
On 05 January 2023 at 12:23

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