Income Tax on Gifts | Taxation of Gift in India | Section 56(2)(x) | Gift Tax Explained

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Confused about Gift Tax? We will explain you all you need to know about Gift Tax in India and how you can SAVE TAX easily. Which type of Gifts are Taxable? Which are NOT?

We will answer all your questions Regarding Taxability of Gifts. किस तरह का Gift Taxable है ?
TAXABLE GIFTS
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* Gifts above 50,000 is taxable in India
* Monetary Gifts above 50k is taxable

NON TAXABLE GIFTS
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* Received on the occasion of Marriage
* Received under a Will
* Gift Received from Any RELATIVE is not Taxable

Watch the video to know who is considered as relative and who is not considered as relative.
Relative का definition जानने के लिए पूरा Video देखिये| बहुत सरल तरीके से समझाया गया है |

What is gift tax in India 2022? Gifts are taxable? Gift can be as Gold, Money, Property or any other Gift. Tax Treatment of Gifts Received by an Individual. We will also discuss important steps to be take into consideration while getting big amount Gift.

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What are Kind of Gifts?
Tax If Gift received during the year exceeds Rs. 50,000?
What if Gift from Employer?
Gift at time of Marriage?
What are the precautions while accepting High Value marriage gifts?
Definition of Relative?
Clubbing of Income what are the rules?
Gifts are tax free if which condition?

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Gifts are an integral part of Indian Society. In this video we will discuss the implications of Income Tax on Gits received from Relatives, Friends and Non Relatives.
If an individual/Huf receives from any person or persons any gift, exceeding Rs. 50000 in any previous year, as per income tax laws, the aggregate amount shall be taxable as Income From Other Sources in the hands of individual or HUF under section 56.

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