Gifts from close family members, including the spouse, parents, siblings, children, and in-laws, are tax-free.
The Union Budget 2024 proposed including a reference to the Black Money Act, 2015.
The angel tax was introduced in the 2012 Union Budget by Pranab Mukherjee.
The budget addresses nine priority areas, including agriculture, employment, energy, infrastructure etc.
TDS (Tax Deducted at Source) aims to collect tax at the source of income.