2024 Gift Tax Exclusion Limit. This means that you can give up to $18,000 to anyone without having to worry about paying any gift tax. The income tax department has released new frequently asked questions (faq) about direct tax vivad se vishawas (dtvsv) scheme 2024.this scheme (announced in.

(this increases to $19,000 per recipient in 2025.) here’s an example: This is known as the “gift tax exclusion.