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of <h1>Immovable property over Rs. 50,000 generally taxable unless received from relatives or via exemptions like inheritance.</h1> Immovable property received without consideration by an individual or HUF is generally taxable if the stamp duty value exceeds Rs. 50,000. However, exceptions exist for property received from relatives, on marriage, through inheritance, or from certain institutions. Other exemptions include property received through specific transactions like company amalgamations or HUF partitions. Additionally, exemptions apply for COVID-19 related medical expenses or death benefits, with conditions regarding documentation and timeframes. These exemptions are subject to specific conditions and may not apply if the recipient is a specified person under certain sections of the Income-tax Act.
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