2025 Gift Tax Exclusion Limit. Effective january 1, 2025, you will be able to make individual gifts of up to $19,000 in the calendar year (an increase from $18,000 in 2024) tax. This exclusion allows taxpayers to gift assets to individuals each year.

The tax cuts and jobs act delivered a sizable increase in the tax exemption limit for estates and lifetime gifts — up to $13.61 million per person in 2024. It is expected that the government should consider increasing the deduction limit under section 80tta (savings account interest) from rs 10,000 to rs 20,000.