An individual received gift of three properties from his friend. None of the properties value exceeds Rs. 50,000, but the aggregate value of these three properties exceeds Rs. 50,000. What will be the tax treatment of gift in this case?

As per section 56(2)(X) if an individual receives an immovable property without consideration, it would be taxable if the stamp duty value of the property exceeds ₹50,000.

In case of immovable property received without consideration by an individual or HUF, the limit of Rs. 50,000 is to be applied transaction-wise and all immovable properties received as gift during the year are not to be clubbed for applying the limit of Rs. 50,000.
Hence, if the total stamp value of immovable properties received as gift during the year exceeds Rs. 50,000 but the stamp value of none of the property exceeds Rs. 50,000, then nothing will be charged to tax.