Under section 92(2)(m) of the Income-tax Act, 2025, an individual receives in a tax year, without…

Section 92(2)(m)(i) of the Income-tax Act, 2025 charges under the head Income from other sources the whole of any sum of money received without consideration where the total exceeds Rs. 50,000 in the tax year, so "It is taxable under the head 'Income from other sources'." Section 92(3) excludes sums received from a relative, on the occasion of marriage, under a will or by inheritance and in certain other cases, and the rule is not limited to cash. This corresponds to section 56 of the repealed Income-tax Act, 1961.