Gift Tax 2024 Exclusion In India. 11 rows the income tax act states that gifts whose value exceeds. Discover the nuances of gift deeds in india, from stamp duty rates to tax implications.

As per the provisions of section 56 (2) of the income tax act, 1961, any gifts (in cash or kind) received by an individual or huf (hindu undivided family) over rs. The whole amount would be.