When purchasing a car in India, it's important to be aware of the potential impact of gift tax on your finances.

The gift tax in India applies to any transfer of property, including vehicles, made without adequate consideration.

This tax can significantly add to the overall cost of acquiring a car, so it's crucial to understand the current regulations and exemptions.

The gift tax in India is levied at a rate of 30% on the value of the car that exceeds the exemption limit.

Navigating the Gift Tax Landscape for Car Purchases in India