If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000, whether total amount of gift will be charged to tax or only the amount in excess of Rs. 50,000 will be charged to tax?

If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000, whether total amount of gift will be charged to tax or only the amount in excess of Rs. 50,000 will be charged to tax? https://www.taxtmi.com/manuals?id=4115 If the aggregate value of monetary gifts received by an individual or HUF during a year exceeds Rs. 50,000, the aggregate value of such sums received without consideration in that year is charged to tax, rather than only the excess over the threshold. en-us Mon, 25 Dec 2023 12:40:00 +0530 Mon, 25 Dec 2023 12:40:00 +0530 TaxTMI RSS Generator If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000, whether total amount of gift will be charged to tax or only the amount in excess of Rs. 50,000 will be charged to tax? https://www.taxtmi.com/manuals?id=4115 If the aggregate value of monetary gifts received by an individual or HUF during a year exceeds Rs. 50,000, the aggregate value of such sums received without consideration in that year is charged to tax, rather than only the excess over the threshold. Manuals Income Tax Mon, 25 Dec 2023 12:40:00 +0530 https://www.taxtmi.com/manuals?id=4115