Annual Gift Tax Exclusion 2024. Starting from calendar year 2024, the annual exclusion for gifts will increase to $18,000, up from $17,000 in 2023. For example, a taxpayer with three children can generally transfer up to $54,000 to them.

50,000 per annum are exempt from tax in india. This means that you can give up to $18,000 to anyone without having to worry about paying any.