Any sum of money or property received by an individual or HUF in the following circumstances shall not be chargeable to tax:
a) Gifts received by an individual from his relatives;
b) Gifts received by an HUF from any of its Member;
c) Gifts received by an individual on occasion of his/her marriage;
d) Gifts received by an individual or HUF under a will or by way of Inheritance;
e) Gifts received in contemplation of death of the payer;
f) Gifts received from any local authority;
g) Gifts received from any fund, foundation, university, educational institution, hospital, medical institution, any trust or institution referred to in Section 10(23C);
h) Gifts received from any trust or institution registered under Section 12AA
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