Ans.No,a gift received from a friend on the occasion of marriage is not taxable in the hands of recipient.Hence,gift received by Mr.Raj on his marriage is exempt from tax.
To dig deeper refer blog on taxability of gifts.
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Ans.No,a gift received from a friend on the occasion of marriage is not taxable in the hands of recipient.Hence,gift received by Mr.Raj on his marriage is exempt from tax.
To dig deeper refer blog on taxability of gifts.