Gift Tax Rules Explained | Is ₹50,000 Really Tax-Free? | Income-tax Act, 2025

🎁 Is a gift of ₹1 lakh taxable? Is only the amount above ₹50,000 taxed? And are gifts from family members always tax-free? In Day 9 of Understanding Income-tax Act, 2025 — 100 Days, we explain the taxability of gifts under the Income-tax Act, 2025 in simple language. In this video, you'll understand: • How the ₹50,000 threshold works • Why ₹50,000 isn't simply a universal “tax-free gift limit” • Gifts from relatives vs non-relatives • Who qualifies as a relative for income-tax purposes • Gifts received on the occasion of marriage • Gifts received through will or inheritance • Tax treatment of money and certain property • Why receiving property for inadequate consideration can also matter • Important exceptions you should know • Practical examples to understand the rules 📌 Key takeaway: When you receive a gift, don't just ask: “How much was the gift?” Also ask: Who gave it? What was received? Does a statutory exclusion apply? 📤 Know someone who thinks “gifts up to ₹50,000 are always tax-free”? Share this video with them.