Tax On Gifts

Gifted shares may escape capital gains tax if HC ruling sets precedent

The court held that a gift is a voluntary transfer and does not require consideration. Only when there is consideration received can profit or gain be measured

When is money gifted not taxable? All your tax queries on gifts answered

In India, if an individual receives a gift, whether it's cash, immovable property, or any other item of value exceeding Rs. 50,000 from a non-relative, it generally falls under taxable income.

Is compensation paid by employer taxable? The devil is in the detail

In the absence of any regulation, a demand can be raised even in case of accidents or partial disability

Kind employers may offer gifts, but onus lies on employees to pay tax on it

Gifts from an employer to employee is taxable as perquisites if their value is more than Rs 5,000.

Reader's corner: Are you liable to pay tax on property received as gift?

If the property is gifted by your uncle to your wife, the transaction will not be covered under the exemption

There is bad news for you if your boss showered you with expensive gifts

If an employee receives a present from a business acquaintance, it is tax-free unless items include jewellery, bullion and property, among other things