A gift is the transfer of something without the expectation of receiving something in return. Although gift-giving might involve an expectation of reciprocity, a gift is something given freely.
In many human societies, the act of mutually exchanging money, goods, etc. may contribute to social cohesion. Economists have elaborated the economics of gift-giving into the notion of a gift economy.
By extension the term gift can refer to anything that makes the other happier or less sad, especially as a favor, including forgiveness and kindness.
When material objects are given as gifts, in many cultures they are traditionally packaged in some manner. For example, in Western culture, gifts are often wrapped in wrapping paper and accompanied by a gift note which may note the occasion, the recipient's name, and the giver's name. In Chinese culture, red wrapping connotes luck.
No one can give if he is concerned with the result of giving. That is a limitation on the giving itself, and neither the giver nor the receiver would have the gift. Trust is an essential part of giving; in fact, it is the part that makes sharing possible, the part that guarantees the giver will not lose, but only gain. Who gives a gift and then remains with it, to be sure it is used as the giver deems appropriate? Such is not giving but imprisoning. - ACIM Manual for Teachers