Gift Tax 2024 Calculator India. Know how gift tax in india works and can help you save on the amount you pay as tax. Gift tax rules for nris under the erstwhile gift tax act, any gift exceeding a value of rs 50,000 was taxable at a rate of 30%.
The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all. Gifts received in india are taxable if the monetary value of all gifts received without consideration by the recipient exceeds inr 50,000.
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