Aggregation of gifts: gifts to the same donee across years are combined for tax calculation, with deductions applied. A new section mandates aggregation of taxable gifts made to the same donee in the relevant previous year and any of the four immediately preceding years; tax is computed on the aggregate under the Schedule, with deductions to exclude pre cutoff gifts and amounts corresponding to gift tax previously paid for prior assessment years, while ensuring the resulting tax is not lower than tax computed without aggregation.