Saturday , November 23 2024

Business

Income Tax Rules: Tax will have to be paid on gifts received on birthday and wedding, know the income tax rules

New Delhi. On occasions like weddings, birthdays or anniversaries, friends and relatives give cash, jewellery, property, vehicles as gifts. Are these gifts also taxable? This question regarding tax comes to the mind of many people. Let us know in this article what rules the Income Tax Department has made regarding …

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