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of <h1>Gifts Over Rs. 50,000 in a Year Are Fully Taxable for Individuals and HUFs Under Tax Rules</h1> If the total value of gifts received by an individual or Hindu Undivided Family (HUF) in a year exceeds Rs. 50,000, the entire amount will be subject to tax, not just the amount exceeding Rs. 50,000. Gifts received without consideration are taxable if their aggregate value surpasses this threshold within the financial year.
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