https://www.taxtmi.com/news?id=1091 Amendment effective 1 October 2009 treats gift-in-kind received by an individual or HUF as income from other sources where the value exceeds the statutory threshold; recipients must disclose the taxable value in their return and pay the tax. Exemptions include gifts from specified relatives, on marriage, under a will or by inheritance, in contemplation of death, from local authorities, from specified charitable funds or trusts, and from registered charitable trusts or institutions. Cash gift rules operate similarly under the preexisting regime. en-us Mon, 01 Feb 2010 11:37:12 +0530 Mon, 01 Feb 2010 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1091 Amendment effective 1 October 2009 treats gift-in-kind received by an individual or HUF as income from other sources where the value exceeds the statutory threshold; recipients must disclose the taxable value in their return and pay the tax. Exemptions include gifts from specified relatives, on marriage, under a will or by inheritance, in contemplation of death, from local authorities, from specified charitable funds or trusts, and from registered charitable trusts or institutions. Cash gift rules operate similarly under the preexisting regime. News - Mon, 01 Feb 2010 11:37:12 +0530 https://www.taxtmi.com/news?id=1091