If you send an annual federal gift above $14,000 per person per year, then your amount will be taxable and the sender needs to pay the taxes on the taxable amount. While in case if you are married, you and your spouse can elect to split the gift. So, you can potentially send $28,000, per person, in a year.
If you send $40,000 to 4 different persons then you have not exceeded the gift limit and you do not owe any gift tax on this, as $14,000 is for a single person limit.
Money received in India:
Gifts that you receive from any other person except blood relatives in excess of Rs 50,000 in a year, is considered as your income and will be taxable under ordinary income.
Blood relatives as per Section 2(41) under the Income Tax Act, 1961 are:
Spouse of the individual.
Brother or sister of the individual.
Brother or sister of the spouse of the individual.
Brother or sister of either of the parents of the individual.
Any lineal ascendant or descendant of the individual.
Any lineal ascendant or descendant of the spouse of the individual.