An individual received gift of three properties from his friend. The value of none of the property exceeded Rs. 50,000, but the aggregate value of these three properties exceeded Rs. 50,000. What will be the tax treatment of gift in this case?

Transaction-wise gift threshold prevents aggregation of small immovable property gifts for taxability under income tax rules.

For immovable property received without consideration by an individual or HUF, the monetary threshold for taxable gifts is applied transaction-wise and separate immovable gifts in the same year are not to be aggregated; if no single property's stamp value exceeds the threshold, such gifts are not treated as taxable despite a higher aggregate stamp value.