How Much Can You Gift Tax Free 2024 In India. Gift tax is an indian law which regulates the gifts given by one person to another, who are not close relatives as defined by the income tax law of india. Under the existing provisions of the act, a gift of money or property is taxed in the hands of donee, except for certain exemptions provided in clause (x) of sub.

How to get help from eztax.in. Gift tax is an indian law which regulates the gifts given by one person to another, who are not close relatives as defined by the income tax law of india.