2024 Gift Tax Exclusion Per Person In India. — learn how to save on gift tax by understanding the types, limits and exemptions of gift tax in india. 11 rows — — learn about the gift tax act, exemptions, limits and provisions.
— monetary gift received on the occasion of marriage (at wedding) is exempted from tax irrespective of amount and irrespective of person; Rules on gift tax in india have been laid down under section 56(2)vi of income tax act, which says that any gift/money received by individual or huf if exceeds rs 50000 in a.
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