2025 Gift Tax Limit In India. The indian government introduced the tax on gifts in april 1958, and the gift tax act regulates it. To figure out how much tax you owe when you receive a gift, the income tax act has guidelines for calculating the taxable value of gifts.
There is no tax on gifts received from relatives in india because the gift tax has been exempt. Giving and receiving gifts are an integral part of indiaโs cultural heritage and are often treated as a token of love, gratitude and appreciation.