#Section 56

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A gift envelope and a wedding invitation on a table beside a calculator, representing the taxation of gifts received in India.

Tax on Gifts Received in India: What's Exempt, What's Taxable

A gift from your father is tax-free with no limit. A gift from a close friend is taxable past ₹50,000. Here's exactly where Section 56(2)(x) draws the line.

18 August 20265 min read