Hey LLA, Receiving a gift is always exciting, 💸 whether it’s money, property, or something more sentimental. But did you know that some gifts might come with a tax bill attached? Understanding the taxation rules on gifts in India is crucial to avoid any surprises! ⚠️ Understanding Gift Tax in India In India, gifts are not always free from tax implications. The rules around gift taxation were reintroduced in 2004 after initially being abolished in 1998. Today, any gift received without conside… Read more