Gift Tax Limit
Web the person making the gift must pay the tax but thanks to annual and lifetime exclusions, most people will never have to pay a gift tax. That's up from $12.06 million for 2022 (the figure is adjusted annually for inflation). Web these provisions, the tax treatment of gifts in the hands of mr. The gift tax rates range from 18% to 40%.
Web “in normal circumstances, cash gifts upto rs. The gift tax rates range from 18% to 40%. It is the tax collected when the gift cost exceeds more than rs.50,000. 50,000 are not subject to tax in the hands of recipient.
