Tax4Filing

Before you accept that gift, pause and check the tax rules 🎁

Not every gift is tax-free.
Gifts from specified relatives are generally exempt, but gifts from others may become taxable if they cross ₹50,000 in a financial year.

Also, keep proper proof like a gift deed and bank transaction records. It can save you from trouble during scrutiny or notices.

Save this post for later and share it with someone who should know this before receiving a gift.
What’s one tax rule people still get wrong? Tell us in the comments.