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WEDDING GIFTS TAXABLE OR NOT
Groom gets Rs 10 lakh cash and gold jewellery from wedding guests. Now he has to keep record of these gifts. But why?A wedding gift of ₹10 lakh in cash sounds like a reason to celebrate, but one woman's post about her cousin's gift has sparked a very diffe...- From Varuni to bhang: How India’s ancient drinking traditions became a colonial tax machineThroughout history, ancient Indian cultures embraced intoxicants such as toddy and cannabis, weaving them into the fabric of religious and ...
- Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax noticesNRI son gifted Rs 30 lakh shares to his father through an off-market transfer. Should it be reported in ITR? Although a genuine gift of sha...
- Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
- Don’t let your gains on gold & silver vanish: You may pay 18.2% additional income tax if not careful about exit timing, check taxation rulesUnderstanding gold and silver taxation is crucial for investors. Holding periods determine short-term or long-term capital gains tax. Strat...
- Gifts to daughter-in-law are tax-free, but parents-in-law pay tax on income; Why Budget 2026 should fix this anomalyGifts to daughters-in-law are tax-free, but income from these gifts is taxed to parents-in-law due to an outdated clubbing rule. This provi...
- Getting expensive wedding gifts? They’re tax-free, but only if you keep these proofs handyWedding gifts, even those by non-relatives or received before or after the wedding, are exempt from tax. But preserve proofs like wedding i...
- When is a cash gift from NRI relatives taxable for resident Indians?The Income Tax Act of 1961 (IT Act) determines whether gifts received by Non-Resident Indians (NRIs) are taxable and is administered by the...
- Investment planning for children: How to choose the right investment option to secure your child's futureInvestment planning for children: Starting early is not enough. Choosing the wrong investment is a common problem. It becomes even more acu...
- What type of gift is taxed and what is exempted? Arnav Pandya explainsArnav Pandya explains income tax rules for gifts, highlighting exemptions for gifts from relatives like spouses, parents, and in-laws. Vari...
- What is a Nil ITR? Check out who is eligible for it and the benefits of filing a Nil ITRIf your income is below the basic exemption, then you need not file an income tax return. Despite this if you voluntarily file your ITR, it...
- Tax on gifts: Documents that you should have while filing ITRGifting is often used to transfer property or money within the family or to relatives by way of will or inheritance. As per the amendment a...
- To pay or not to pay: High Court decides on the levy of GST on vouchersThe ever-growing demand of vouchers is being satiated by companies who procure vouchers from their issuers and supply them to buyers. Till ...
- Gifts for the grandchildren: 7 things to keep in mind while investing for grandkidsGrandparents who want to give gifts in the form of money or investment have to operate necessarily through the parents who are the natural ...
- Should a woman opt for lump sum or periodical alimony payments?Alimony would be given after the legal separation, either as a lump sum or a periodic fixed payment. A regular fixed payout may stop or get...
- Income tax filing FAQs part 1The losses under the head income from house property can be considered by your employer while computing the TDS on the salary.
- Grey areas people are exploiting to justify unaccounted cash as legal incomeTax professionals are charging 5% to 25% to suggest strategies that can convert unaccounted cash into legitimate money. Here are some of th...
- How well do you know the tax rules?An online survey conducted by Economictimes.com shows that Indians are not very clued in when it comes to taxation. Take this quiz to gauge...
- Are you evading Tax? Check how you can stop doing itThey may not be aware, but even honest individuals can end up evading tax. Find out if you also fall foul of tax laws and how to stop doing...
- Filing income tax return? Include income from all sourcesYou are liable to pay a heavy penalty and interest if you omit any income. Here are some you need to consider.
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