How Much Can You Gift Tax Free 2024 In India

How Much Can You Gift Tax Free 2024 In India. There are many ways in which individuals in india can save tax under various sections of the income tax act. The recipient of the gift is required to pay tax on the amount that exceeds this threshold.

The whole amount would be. Till 1 st october, 1998, all gifts (including gifts to relatives), barring few exceptions, were chargeable to gift tax in the hands of the donor under gift tax act.