2024 Gift Tax Limit. The 2024 gift tax limit is $18,000, up from $17,000 in 2023. It is essential to comprehend the rules of gift tax, exemption rules, and how the entire mechanism works in india because the gift tax falls under the taxation system, directly.

Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). This is the maximum amount you can gift to an individual without filing a.