Gift Amount Tax Free 2024

Gift Amount Tax Free 2024. Under the income tax act, a gift of more than rs 50,000 received from a relative is considered 'income from other sources'. The combined gift and estate tax exemption will be $13.61 million per individual for lifetime.

Your dad dies when the threshold is €335,000, leaving you an inheritance worth €300,000. Anil poste 3 min read 17 aug 2024,.