The maximum amount of cash gift from family member is nowhere specified in IT act. But receipts of cash gift is covered in section 269ST as explained below.
But as per Section 269ST, No person shall receive an amount of Rs. 200000/- or more in aggregare from a person in a day in respect of single transaction , otherwise than by an account payee cheque, account payee bank draft or net banking or other electronic clearing system. 
Hence in respect of a single event, cash gift from a person in a single day for Rs. 200000/- or more is not allowed. If a person receives any sum in contravention of the provisions of section 269ST, he shall be liable to pay, by way of penalty, a sum equal to the 100% of amount of such receipt: Provided that no penalty shall be imposable if such person proves that there were good and sufficient reasons for the contravention.” 
Hence but it is better not to receive cash gift above Rs. 199999/- in a day from a person. But for difference event on different day, separate limit is seen. Hence the limit is for a single event and from a person for one day. 
Apart from cash limit, you need to understand Taxability of Gift. :-

• Any sum of money or movable property or immovable property received without consideration or reduced price, it can be termed as ‘GIFT’.
• If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000 and the gifts are not covered under the below given exceptions, then gifts whether received from India or abroad will be charged to tax. Some exceptions to this are:-1) Money received from relatives.
  (Relative for this purpose means:
  i. In case of an Individual
  a.Spouse of the individual;
  b.Brother orsister of the individual;
  c.Brother or sister of the spouse of the individual;
  d.Brother orsister of either of the parents of the individual;
  e.Any lineal ascendant or descendent of the individual;
  f.Any lineal ascendant or descendent of the spouse of the individual;
  g.Spouse of the persons referred to in (b) to (f).
  ii. In case of HUF, any member thereof.)
  2) Money received on the occasion of the marriage of the individual.
  3) Money received under will/ by way of inheritance.
  4) Money received in contemplation of death of the payer or donor.
  5) Money received from a local authority [as defined in Explanation to section 10(20) of
  the Income-tax Act].
  6) Money received from any fund, foundation, university, other educational institution,
  hospital or other medical institution, any trust or institution referred to in section
  10(23C). [w.e.f. AY 2023-24, this exemption is not available if a sum of money is
  received by a specified person referred to in section 13(3)]
  7) Money received from or by a trust or institution registered under section 12A, 12AA or
  section 12AB [w.e.f. AY 2023-24, this exemption is not available if a sum of money is
  received by a specified person referred to in section 13(3)].
  8) Money received by any fund or trust or institution any university or other educational
  institution or any hospital or other medical institution referred to in section
  10(23C)(iv)/(v)/(vi)/(via).
  9) Money received as a consequences of demerger or amalgamation of a company or
  business reorganization of a co-operative bank under section 47.