Gift on occasion of marriage

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1 Points Posted on 25 June 2021
Taxability of gift received from employer on occasion of marriage in gold worth Rs 7 Lakh???
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On 25 June 2021 at 22:06 Report
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Gifts received on the occasion of marriage are generally exempt from tax in the UK. This applies even if the gift is from an employer, as long as it's considered a genuine wedding gift. However, gifts from unrelated individuals exceeding £50,000 may become taxable. It's important to note that gifts received on wedding anniversaries are not exempt.

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210 Points Posted on 25 June 2021
Any sort of gift that is given on the occasion of wedding from immediate family gifts are not taxable under the Income Tax Act. If the gifts are from unrelated people, friends the maximum limit of the value of the gifts is Rs 50,000. After this limit the gifts will be taxable as per the slab.
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On 25 June 2021 at 22:23
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22 Points Posted on 25 June 2021
Gift on the occasion of "marriage' is always exempt but not on the occasion of wedding anniversary.
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On 25 June 2021 at 22:47
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CMA
13117 Points Posted on 25 June 2021
Entire 7 lacs would be exempt in this case.
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On 25 June 2021 at 23:00
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Chartered Accountant
24588 Points Posted on 26 June 2021
It is fully exempted
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On 26 June 2021 at 09:24
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tax consultant
3306 Points Posted on 26 June 2021
I hope you received them in bank
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On 26 June 2021 at 09:31
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Chartered Accountant
24588 Points Posted on 24 July 2021
If it in cash then problem might happen
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On 24 July 2021 at 09:51

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