New Delhi, Oct. 24 -- Did you receive cash, jewellery, or other gifts from friends or relatives? While some gifts are tax-free, others may be taxable depending on their value, who gave them, and the occasion.

The FAQs on gifts received by an individual or Hindu Undivided Family (HUF) under the Income-Tax Act, 2025, explain when gifts are exempt and when they attract tax.

Gifts received from specified relatives are exempt from tax, irrespective of their value. These include:

Other exempt categories include gifts received through a will or inheritance, gifts received in contemplation of the donor's death, and certain receipts from specified authorities and registered non-profit organisations.

If you receive cash gifts worth more than Rs...