Gifts received by the bride and groom during their marriage do not attract tax, even if their aggregate value exceeds Rs50,000. And it does not matter who gave the gift.
Gifts received by an individual during a financial year (FY) are tax free only if their aggregate value does not exceeds Rs50,000. The limit is inclusive of all gifts received in cash as well as kind. Let’s say a person receives gifts of Rs20,000 each from two friends, and jewellery worth Rs25,000 from another during an FY. In such a case, she will need to pay tax on Rs65,000, as per her applicable tax slab.
THE WEDDING GIFT by is directed by Wesley Frugé and Pilar O'Connell. It stars Nazlah Black, Andrew Shanks, Marquicia Dominguez, Tré Calhoun, Charhys Bailey, J Reese*, Haley Alaji, Varsha Raghavan and Lance Valdez. The creative team is (Stage Manager), Amontaine Aurore (Dramaturg), (Language Coach), Carolyn Hall (Costume Design), Z (Lighting Design), Kyle Thompson (Sound Design), Rachel Delmar (Props Master / Set Dressing) and Eva Zertuche (Asst. Costume Design / ASM).
Tickets are now available for Forward Flux's productions of THE WEDDING GIFT by (West Coast premiere), and THE SUMMER HOUSE by Sarah Bernstein (World premiere), playing September 20th - October 8th at Gay City Arts (517 E Pike St, Seattle, WA 98122). For the second year in a row, Forward Flux will present two new plays in the same theatre, allowing audiences to choose one, or see both in one night with show times at 7pm and 9pm. Each play runs around 75mins with no intermission (as it should be).