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An individual received gift of three properties from his friend. The value of none of the property exceeded Rs. 50,000, but the aggregate value of these three properties exceeded Rs. 50,000. What will be the tax treatment of gift in this case?

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....be the tax treatment of gift in this case?<br>FAQs on Gifts received by an individual or HUF - Income Tax - Frequently Asked Questions (FAQs)<br>Income Tax<br>Ans. In case of immovable property receiv....

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An individual received gift of three properties from his friend. The value of none of the property exceeded Rs. 50,000, but the aggregate value of these three properties exceeded Rs. 50,000. What will be the tax treatment of gift in this case?