TAX TREATMENT OF GIFTS RECEIVED BY AN INDIVIDUAL OR HUF

amount of gift and not the amount in excess of Rs. 50,000). Illustration Mr. Kumar received following gifts during the financial year 2022-23: Rs. 1,84,000 from his friend residing in Canada. Rs. 25,200 from his elder brother residing in Delhi. Rs. 84,000 from his friend residing in Delhi (received on the occasion of birthday ................
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