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Showered with gifts at your wedding? Here’s how they will be taxed (or not)

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Gifts received on the occasion of a wedding from relatives, friends and acquaintances are tax-free. However, if exemption is claimed on gifts received from a relative or friend well in advance, be prepared for queries from the income tax department.

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​ Gifts received on the occasion of a wedding from relatives, friends and acquaintances are tax-free. However, if exemption is claimed on gifts received from a relative or friend well in advance, be prepared for queries from the income tax department. Gifts received on the occasion of a wedding from relatives, friends and acquaintances are tax-free. However, if exemption is claimed on gifts received from a relative or friend well in advance, be prepared for queries from the income tax department.  Moneycontrol Latest News Read More  

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