Cash received as gift from some relatives is tax exemptParizad Sirwalla
Money received as gift from certain relatives is tax exemptParizad Sirwalla
If a gift was given by relatives If it is received in conjunction with the person's marriage, or If it is obtained through a will, an inheritance, or If it is accepted with the donor's death in mind, or if it originates from a local authority as defined in the Section 10(20...
Anything you got since then from a grandparent, a great-grandparent or a uncle or aunt related by blood is also taken into account. So if you are fortunate in your relatives, you can hit even that new threshold quite quickly. Capital gains tax relates to something different – profit...
Money received as gift from specified relatives is exempt from income taxParizad Sirwalla