Gift Tax 2024 Limits In India. — as per the provisions of section 56 (2) of the income tax act, 1961, any gifts (in cash or kind) received by an individual or huf (hindu undivided family) over rs. — learn about the gift tax provisions under the income tax act in india, which apply to gifts of more than inr 50,000 received without consideration or against.
The gift tax is an income tax on gifts of. — learn how gifts are taxed in india, who are the relatives exempt from gift tax, and what are the exemptions on gift tax.
