In India, gifts received during marriage are tax-free for the couple, regardless of amount. However, relatives must declare gifts exceeding Rs. 50,000. Clubbing provisions apply to gifts from specific relatives, impacting future income tax calculations.
In India, gifts received during marriage are tax-free for the couple, regardless of amount. However, relatives must declare gifts exceeding Rs. 50,000. Clubbing provisions apply to gifts from specific relatives, impacting future income tax calculations.
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