Income produced through the gifts on the marriage is issue to tax. For instance, If you're gifted property and you place it up to lease, the money generated by way of hire is taxable.
For Simplification if property invest in price is 50lac but for the goal of valuation of stamp responsibility it is actually taken by authority 65lac than in the situation of reward obtained such house value sixty five lac will be taken and tax might be demand on 65 lac benefit.
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Any sum of amount been given (as present) with out thing to consider approximately Rs 50000 in one year will not be taxable at wherever. Additional next receipts with no consideration also are not revenue :
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