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of <h1>Gifts of Multiple Properties Under Rs. 50,000 Each Not Taxable Even if Total Exceeds Limit: Section 56(2) Explained</h1> An individual received three properties as gifts from a friend, each valued below Rs. 50,000, but their combined value exceeded Rs. 50,000. For tax purposes, when an individual or Hindu Undivided Family (HUF) receives immovable property without consideration, the Rs. 50,000 limit applies to each transaction separately. Therefore, even if the total value of all gifted properties surpasses Rs. 50,000, no tax is applicable if each property's stamp value individually does not exceed Rs. 50,000.
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