Gift Tax Percentage 2024. Gifts upto rs 50,000 per annum are exempt from tax in india. The federal estate, gift, and gst tax rate remains at flat 40% on the excess.

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. Gifts are of three types monetary (like cash), immovable property, and movable.