Tax Free Gift Limit 2024 Over 50. 1 for 2024, the limit has been adjusted for inflation and will rise to $18,000. For married couples, the limit is $18,000 each, for a total of $36,000.
Gift tax in india is applied when the value of the received gift exceeds โน50,000 in the financial year. For 2024, the annual gift tax limit is $18,000.