Taxable 🎁 Gifts in India:what you need to know 🏠🧧🎁💸👭

Описание: Taxable 🎁 Gifts in India:what you need to know 🏠🧧🎁💸👭#shortvideo#shortsvideo#shorts#short#shortsfeed

Here are some examples of taxable gifts in India:

1. Cash gifts exceeding ₹50,000 in a financial year
2. Immovable property (e.g., land, house) without consideration
3. Movable property (e.g., shares, jewelry) without consideration
4. Gifts received from non-relatives (e.g., friends, colleagues)
5. Gifts received from foreign sources (e.g., foreign companies, individuals)
6. Gifts received in excess of ₹2 lakhs (new exemption limit from Budget 2023)
7. Gifts received by a spouse or minor child (clubbing provisions apply)
8. Gifts received from charitable trusts or institutions (some exceptions apply)
9. Gifts received on occasions like birthdays, anniversaries, or festivals (no exemption)
10. Gifts received in the form of property, securities, or assets without adequate consideration.

Note: These examples are not exhaustive, and tax laws are subject to change. Consult a tax professional for specific guidance on taxable gifts in India.

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