A quick guide to India’s gift tax rules and how much you can give family without worrying about the taxman.
Know the conditions under which you pay no tax—and when you’re liable to report a gift.
Gifts received on the occasion of a wedding from relatives, friends and acquaintances are tax-free. However, if exemption is claimed on gifts received from a relative or friend well in advance, be prepared for queries from the income tax department.
Crypto gifts received will be taxed as ‘income from other sources’ at regular slab rates if the total value of gifts is more than Rs 50,000.
Higher surcharge for the super rich resident Indians are applicable for NRIs too
The noise against a proposal to recall the infamous estate duty to life is gaining volume. CNBC-TV18's Ashmit Kumar finds out what one can do to reduce the burden of this tax, should it come to pass.
The last thing that you want to think of while receiving a gift is about the tax implications of it.