gift tax

Last Updated: January 25, 2023, 14:02 ISTThe recipient of the present must pay taxes on it as income if the gift's value is greater than Rs. 50,000. The recipient of the present must pay taxes on it as income if the gift's value is greater…

People are celebrating the auspicious day of Diwali today (October 24). It is an occasion where people also exchange gifts; employers give gifts to employees, sellers to customers, and friends to other friends, etc. However, the gifts do…

As the festive season 2022 is starting next week with Navratras, followed by Dussehra, Dhanteras and Diwali, there will be gift exchanges during the period. Though the gifts you receive are not considered your direct income, they attract…