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Diwali gifts: Taxable or tax-free? Decoding the rules for a hassle-free festival : comparemela.com
Diwali gifts: Taxable or tax-free? Decoding the rules for a hassle-free festival
Gifts received from relatives during Diwali are completely exempt from taxation under the provisions of the Income Tax Act. However, when it comes to gifts from non-relatives, the tax rules and guidelines differ.
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