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Gift Tax is a Form of Direct Tax That is Imposed on the Recipient of Gifts.
For NRIs in India, if the Gifted Amount From a Non-relative Exceeds Rs 50,000, the Entire Amount is Taxable for the One Receiving It. However, You Will Not Be Subject to Taxes on the Gifts Received From Relatives.
Yes, if the Total Value From a Non-relative Gift Exceeds the Threshold for Inr 50,000 in a Year, Unless They Are Extraordinary Under Special Circumstances Like Inheritance, Marriage, or Will.
It is Said Up to Usd 250,000 Per Financial Year for Permitted Purposes.
As Per FEMA, the Relatives Referred to as Parents Include the Stepfather and Stepmother, Spouse, Son, His Wife, Daughter, and Her Husband.