Gift Tax 2025. Any gift received from a relative as defined under the income tax act is not taxable in the hands of the recipient, irrespective of the. In 2025, individuals can give up to $18,000 to one or multiple people without being taxed.
Effective january 1, 2025, the federal estate and gift tax exemption amount increased from $12.92 million to $13.61 million per individual (a combined $27.22. Know about gift tax, how are gifts taxed & when are gifts exempted from income tax in india