What Is The Gift Tax Rate 2024. The gift tax rate is between 18 percent and 40 percent, depending on how far your cumulative gifts. Under the current rules, any gift received without consideration that exceeds ₹ 50,000 in a financial year is subject to tax as income, in accordance with section.

Find out what is considered a gift, who is exempt, and how. Since the passage of the tax cuts and jobs act (tcja), which became effective jan.