Maximum Tax Free Gift 2024 India. Presently, gifts received (i) from relatives or (ii) on the occasion of marriage, or (iii) under a will, or (iv) in contemplation of death of the donor or (v) where aggregate value of gift is. There are many ways in which individuals in india can save tax under various sections of the income tax act.
Hereโs how a gift is treated for tax if a resident indian receives it from an nri: However, the income tax act 1962 includes key provisions which allow you to receive various.