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Tax on Gift

Latest Articles


Gifting to NRIs: Shares & Money Transfer Rules

Income Tax : Explore the guidelines for gifting shares and money from residents to non-resident relatives under FEMA and LRS, ensuring complian...

February 26, 2024 2619 Views 0 comment Print

Format of Gift Deed

Income Tax : Explore the intricacies of a Gift Deed, detailing the transfer of shares with love and affection. Understand the legalities, assur...

February 2, 2024 14928 Views 0 comment Print

Are gifts received from relatives on Diwali subject to taxation?

Income Tax : Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset consideration...

November 7, 2023 2484 Views 0 comment Print

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

Income Tax : Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 reli...

November 3, 2023 17115 Views 0 comment Print

Taxability of Gifts in the Hands of Recipients Simplified

Income Tax : Learn about gift tax rules in India, including exemptions, taxability, and the impact on recipients. Get insights into tax-saving ...

October 21, 2023 15183 Views 11 comments Print


Latest News


Ancestral family property can be ‘gifted’ away : Bombay HC

Finance : he Bombay High Court ruled on Wednesday that no part of an ancestral family property can be ‘gifted’ away. The court in a land...

March 19, 2010 5977 Views 0 comment Print

Income Tax department filed appeal in ITAT against Mayawati demanding tax of 10 crore

Income Tax : In fresh trouble for Uttar Pradesh Chief Minister Mayawati, the Income Tax Department has filed two appeals in the Income Tax Appe...

June 24, 2009 621 Views 0 comment Print


Latest Judiciary


ITAT delhi Deletes Addition of Cash Gifts Received from Mother

Income Tax : In Sharon Agarwal Vs ITO, ITAT Delhi deletes addition of cash gifts received from mother. Explore implications of this landmark de...

June 7, 2023 1086 Views 0 comment Print

No capital Gain Tax on Gift of Immovable Property to Sister

Income Tax : From gift deed it is crystal clear that the said property was gifted by assesee to his sister out of natural love and affection an...

May 5, 2023 3621 Views 0 comment Print

ITAT deletes Addition for Cash Gift from Uncle and Aunt

Income Tax : It is pertinent to note that to meet the emergency situation of additional expenses by the assessee the assessee has obtained cash...

January 29, 2023 2280 Views 0 comment Print

Limitation & restriction should be considered for valuation of shares for gift tax: SC

Income Tax : Supreme Court held that the valuation of shares for the purpose of gift tax needs to take into consideration the limitations and r...

October 21, 2022 5388 Views 0 comment Print

No addition for Cash Gift from Siblings for Medical Emergencies

Income Tax : ITAT held that cash gifts received by the assessee from her brother and sister cannot be added as unexplained income under section...

August 16, 2022 972 Views 0 comment Print


Latest Notifications


CAs cannot do Valuation of unquoted equity shares under DCF method

Income Tax : Amendment in Rule 11U and 11UA omitting reference to the term accountant, thereby permitting only merchant bankers to determine th...

May 24, 2018 94155 Views 0 comment Print


Latest Posts in Tax on Gift

Gifting to NRIs: Shares & Money Transfer Rules

February 26, 2024 2619 Views 0 comment Print

Explore the guidelines for gifting shares and money from residents to non-resident relatives under FEMA and LRS, ensuring compliance with Indian regulations.

Format of Gift Deed

February 2, 2024 14928 Views 0 comment Print

Explore the intricacies of a Gift Deed, detailing the transfer of shares with love and affection. Understand the legalities, assurances, and the absolute ownership bestowed upon the Donee in this comprehensive guide.

Are gifts received from relatives on Diwali subject to taxation?

November 7, 2023 2484 Views 0 comment Print

Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset considerations that can impact your festive generosity.

Tax Treatment of Gifts Received By an Individual or HUF: Rules & Exceptions

November 3, 2023 17115 Views 0 comment Print

Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 relief provisions.

Taxability of Gifts in the Hands of Recipients Simplified

October 21, 2023 15183 Views 11 comments Print

Learn about gift tax rules in India, including exemptions, taxability, and the impact on recipients. Get insights into tax-saving options.

Tax Implication on Gifts Under Section 56(2)(x)(b) of Income Tax Act, 1961

September 4, 2023 44889 Views 14 comments Print

In this blog, we will discuss provisions relevant with taxation of gifts in the hands of individual. First of all, receiver must ensure that gift is from genuine source and is not involving any black money and proceeds of crime.

Taxability of Gifts under Income Tax Act, 1961

August 17, 2023 13461 Views 0 comment Print

Explore detailed rules and exemptions of gift taxation in India under Income Tax Act, 1961, including classification and tax implications for different types of gifts.

Taxation on Gifts under Income Tax Act, 1961- An In-depth Summary

August 14, 2023 4935 Views 0 comment Print

Explore the rules and regulations surrounding gift taxation in India. Learn about taxable gifts, exemptions, and ways to comply with the Income Tax Act.

Taxability of Gift received by an individual or HUF with FAQs

July 24, 2023 362214 Views 60 comments Print

Learn about the tax implications of monetary and movable gifts received by individuals or Hindu Undivided Families (HUFs). Understand the exemptions and conditions for tax liability. Read more!

Gift of Property & Tax Obligation: A Comprehensive Guide

June 17, 2023 26655 Views 1 comment Print

Understand the legal and tax implications of gifting movable and immovable property. Learn about gift deeds, tax exemptions, capital gains, stamp duty, and registration requirements.

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