Is gift money received in wedding taxable?

I got married this year and got Gifts money worth nearly 5 Lakh, is it taxable?

Hey Devansh,

Gifts you receive in the event of a wedding are not taxable.
However, the subsequent income you generate from it like:

  • Interest
  • Capital gains from sale of gift, etc.

Are subject to Income Tax, under certain conditions.

You can refer to this article for details : Tax on Gift Income

Hope this helps :slight_smile: