Gift from a non relative to an individual, or HUF up to Rs. 50000/- during financial year is tax free in the hands of the recepient. However if the amount of gift exceeds this limit, the entire amount of the gift is added to the income for tax purpose. However, there is no limit for tax-free gift in cash from a relative of the individual - Not HUF; as HUF can not have a relative.
