Thinking of giving or receiving a gift? First, read this! 👉 Gifts up to ₹50,000 from non-relatives are completely tax-free. But if it’s above ₹50,000, the entire amount becomes taxable as per your income tax slab. 💡 But here’s the best part… If the gift is from any of these 7 close relatives, there’s NO TAX at all, no matter how big the amount: Spouse Parents Siblings Spouse’s parents/siblings Your children's spouses Grandparents Grandchildren ✅ So, if your mom or brother gifts you ₹5 lakh — it’s 100% tax-free! But if a friend gives you ₹60,000 — then the entire ₹60,000 is taxable. ⚠️ Before celebrating that surprise gift, be sure you’re not surprising the Income Tax Department too!