https://www.taxtmi.com/manuals?id=4118 Gifts received by an individual or HUF from persons defined as relatives are not chargeable to tax; the statutory roster of relatives includes spouse, siblings of the individual and spouse, siblings of either parent, lineal ascendants and descendants of the individual and of the spouse, and spouses of the listed persons. A friend is not included in that list and therefore gifts from friends do not benefit from the relative-based exemption and will be subject to tax treatment applicable to gifts where other statutory criteria for taxation are met. en-us Mon, 25 Dec 2023 12:50:00 +0530 Mon, 25 Dec 2023 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=4118 Gifts received by an individual or HUF from persons defined as relatives are not chargeable to tax; the statutory roster of relatives includes spouse, siblings of the individual and spouse, siblings of either parent, lineal ascendants and descendants of the individual and of the spouse, and spouses of the listed persons. A friend is not included in that list and therefore gifts from friends do not benefit from the relative-based exemption and will be subject to tax treatment applicable to gifts where other statutory criteria for taxation are met. Manuals Income Tax Mon, 25 Dec 2023 12:50:00 +0530 https://www.taxtmi.com/manuals?id=4118