Are gifts taxed in India under the Income Tax Act?

Yes, under Section 56(2)(x), gifts (cash, movable, or immovable property) received in a year are taxed as 'Income from Other Sources' if their aggregate value exceeds ₹50k.

Which gifts are completely exempt from tax under Section 56(2)(x)?

Gifts from defined relatives (spouse, siblings, parents, lineal ascendants/descendants) and gifts received on the occasion of the individual's marriage are fully tax-free, regardless of the amount.

How is tax computed if the aggregate gift value is ₹55,000?

If aggregate gifts from non-relatives exceed the ₹50k threshold, the entire ₹55,000 is taxable at your slab rate, not just the excess ₹5,000.

Gift Tax CalculatorFY 2026-27

Calculate tax on cash/property gifts per Sec 56(2) with relative/marriage exemption checks.

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Quick Summary: Gift Tax Calculator

In FY 2026-27, gifts from 'non-relatives' are taxable as 'Income from Other Sources' if the total value exceeds ₹50k in a financial year. However, gifts from defined relatives (spouse, siblings, parents) or gifts received on the occasion of marriage are 100% tax-free regardless of the amount.

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Regulatory Disclaimer · FY 2026-27

Last verified May 2026

Statutory Disclosure

Nature:Calculator platform and is NOT a SEBI-registered Investment Adviser. All calculations are indicative.

Risk:"Investments in securities market are subject to market risks. Read all related documents carefully before investing."

Consult a SEBI-registered IA or CA for personalised advice.

9 out of 10 traders in F&O incurred net losses (SEBI 2023). Tax estimates based on IT Act 2025. Trezoriq is not liable for financial decisions based on results.