Calculate Gift Tax & Annual Exclusion
Determine if your gift is taxable. Calculate gift tax owed with annual and lifetime exclusion amounts.
India Rules
Gifts from relatives: FULLY tax-free (no limit!)। Relatives: spouse, siblings, parents, in-laws, lineal descendants। Non-relative gifts: taxable if >₹50,000/year aggregate। Wedding gifts: fully exempt (any amount, any giver!)। Property gift: stamp duty value applies।
Planning
Gifts between relatives: powerful tax planning tool। Parent→child property gift: no capital gains tax। HUF structure: additional tax benefits for joint Hindu families।
The lifetime gift/estate tax exclusion of $13.61 million is scheduled to drop to approximately $7 million in 2026 when the 2017 Tax Cuts and Jobs Act provisions expire (unless Congress acts). Wealthy families are accelerating large gifts before this sunset. For most Americans, the current exclusion is so large it is irrelevant — but it is worth monitoring if your net worth exceeds $5 million.
