Gifts are of three types monetary, immovable property, and movable property, the taxability on such gifts vary depending on the Occasion (such as Birthday, Anniversary, Marriage, Festivals like Dussehra, Diwali, Christmas, Ramzan) and the person and/or entity (such as Friends, Relatives, Will or Inheritance, Trust etc.) from which such gift was received. Gift Tax Calculator gives you the taxability of a transaction.
Get to know more at Tax on Gifts in India | Exemption and Rules
Get frequently asked questions on Gifts and Other Income at What is Other Income in Income Tax & FAQs
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