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          Income Tax

          Are monetary gifts received from abroad liable to tax?

          FAQs on Gifts received by an individual or HUF

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          Taxation of monetary gifts applies when aggregate gifts to an individual or HUF exceed the statutory threshold absent exceptions. Monetary gifts received by an individual or Hindu Undivided Family are taxable where the aggregate value of monetary gifts received during the year exceeds Rs. 50,000, unless such gifts fall within prescribed exceptions; this chargeability applies to gifts received from India or abroad.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  Taxation of monetary gifts applies when aggregate gifts to an individual or HUF exceed the statutory threshold absent exceptions.

                                  Monetary gifts received by an individual or Hindu Undivided Family are taxable where the aggregate value of monetary gifts received during the year exceeds Rs. 50,000, unless such gifts fall within prescribed exceptions; this chargeability applies to gifts received from India or abroad.


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