Income tax rules: The taxability of gifts in India is governed by the provisions of the Income Tax Act. Typically, gifts by individuals are not subject to taxation; however, certain conditions may apply.
Basudha Das is a News Editor for Business Today, focusing on local news in Maharashtra, specifically Mumbai. Basudha covers a wide range of topics including finance, taxes, investments, and the business sector. With a keen interest in the fintech industry, Basudha provides expert insights and analysis on budget announcements, tax regulations, and market trends.