if gift received from relatives it is fully exempt whether in cash or kind and if received from other than relative in cash upto 50000 it is exempt & and in kind ,fully exempt
GIFT RECEIVED FROM RELATIVE IS FULLY EXEMPT [RELATIVE MEAN BLOOD RELATION] OTHER THAN RELATIVE IT IS EXEMPT UP TO 50000/- IN CASH OR KIND IT IT IS EXCEED RS 50000/- THAN FULLY TAXABLE
CAclubindia
