An individual received gift of jewellery from his friends. The total value of jewellery received during the year as gift from all the friends amounted to Rs. 84,000. What will be the tax treatment of gift in this case?

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....ift in this case?<br>FAQs on Gifts received by an individual or HUF - Income Tax - Frequently Asked Questions (FAQs)<br>Income Tax<br>Ans. If the aggregate fair market value of prescribed movable prop....