Is making Gift Deed compulsory If I gift money in family ?

POSTED BY dkkatariya ON January 30, 2014 9:21 am COMMENTS (2)

If I taken or given any amount through cheque/Net transfer in my family members(Wife/Brother/Mother/Father) its necessary to document as gift deed for Income tax purpose.

2 replies on this article “Is making Gift Deed compulsory If I gift money in family ?”

  1. Paresh says:
    June 2, 2015 at 11:47 am

    What is the value of the stamp paper on which a gift deed for transfer of money is made?

    Reply
  2. ashalanshu says:
    January 30, 2014 at 9:43 am

    Dear Dkkatariya, to avoid any future trouble from income tax people, it’s in your own interest to prepare gift deeds for such transactions.

    Thanks

    Ashal

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.