2025 Gift Tax. Effective january 1, 2025, you will be able to make individual gifts of up to $19,000 in the calendar year (an increase from $18,000 in 2024) tax. Without any changes to the law, the estate and lifetime gift tax exemption.
The income tax act states that gifts whose value exceeds. The parliament of india introduced the gift tax act in 1958, and gift tax is essentially the tax charged on the receipt of gifts.
