What is best way to migrate taxonomy and tagging from SPO site to another SPO?
I have find Share gate tool for that, but i am not sure so can any body suggest if any other tools or manual migration for the same?
The "best practice" (and probably also the easiest approach nowadays) would be using PnP Provisioning in one of its flavours:
(I did this in the past using PnP PowerShell, at that point in time the engine was clumbersome when dealing with taxonomies and I had to tweek it a bit, but later the issues were resolved, good luck! (no pun intented)