Gift money from Indian Parents to a H1 B Visa Holder for Down Payment of house

[Geen]

I am an H1 B Visa holder and looking out to buy a house in US. My parents who are in India is planning to send gift money towards my down payment. Is there a limit on how much i can get and whether this would be taxable on my returns? 

I read this https://www.irs.gov/businesses/gifts-from-foreign-person, but it mentions under the section "Business & Self employed". Is it the same for Individuals?

[SweetieJean]

Before you proceed, be aware that many US lenders will not issue mortgages to such Visa holders.

[Geen]

Just to make it a little more clear - I have already got pre-approval for mortgage. I do have the money to put in 20% down payment as well without this gift money. I am trying to bring the goft money, so my loan amount will be less and i will not need to pay more mortgage interest & per month

[Opus 17]

The link from the IRS is correct.  The fact that it is filed in the web site section on businesses is irrelevant, the instructions for the form are clear.

You must report gifts from foreign corporations or businesses of more than $14,000 per year or gifts from foreign persons of more than $100,000.  There is no tax owed when receiving a gift, this is a reporting requirement only.