Bhai Dooj 2026: Transferring ₹5 lakh to your sister? Know when a sibling’s cash gift is tax-free and when it is taxable

India's Income Tax Act, 2025 allows siblings to gift up to ₹5 lakh without tax implications. However, cash transaction rules must be followed.

Gifts exceeding ₹50,000 in a financial year are taxable at the receiver's income tax slab rate.

Legal ways to transfer money include cheques, demand drafts, or online transfers.