Are Gifts That Arrive Before Christmas 2024 Taxable. Investing money and / or income. From april 1, 2024, the capital gains tax exemption for gifts under corporate restructuring will apply only to gifts by individuals or hindu undivided families.

Yes, all kinds of gifts including cash, gold, real estate, paintings or any other valuable item are taxable. The income tax act states that gifts whose value exceeds rs.50,000 are subject to gift tax in the hands of the recipient.