Shreyaa Kapoor Instagram – Save money on your wedding day! 🎉
In India, the taxation of wedding gifts received is covered under Section 56 of the Income Tax Act, 1961.
The gifts newlywed couples receive on the occasion of their marriage from their immediate family members are not taxable in India. 🫶🏼
These gifts can be in any form, such as a house, property, cash, jewelry or stock, etc., and are exempt from taxation.❤️
Do note that in case you have shown some amounts or assets as having been received at the occasion of your marriage, you will have to furnish the details of all the persons from whom you have received the gifts. 🎁
Share this with all your friends getting married this season! 💍
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[Shreyaa Kapoor, Indian wedding, wedding, marriage, wedding gift, wedding prep, taxation, gift tax] | Posted on 20/Dec/2023 20:00:10
