Gift Tax 2024 Exemption In India

Gift Tax 2024 Exemption In India. Tax exemptions on aircraft or ship. Gifts by resident indian relatives to nri are exempt, as are gifts up to a value of rs 50,000 given by resident indian friends and acquaintances.

Learn how gifts are taxed in india, who are the relatives exempt from gift tax, and how to calculate the taxable value of a gift. Find out the types of gifts, taxable limits, exemptions, and occasions that affect the tax liability of the receiver and donor.