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?

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....e charged to tax?<br>FAQs on Gifts received by an individual or HUF - Income Tax - Frequently Asked Questions (FAQs)<br>Income Tax<br>Ans. Sum of money received without consideration by an individual ....