Gift Deeds Drafting

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This query is : Resolved

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This discussion clarifies the requirements for drafting cash gift deeds, particularly from parents. It addresses whether Rs.100 stamp paper is adequate for significant cash gifts (Rs. 15-30 lakhs) and whether registration or notarisation is necessary, especially when the gift is made via cheque.

Ashfaq Shaikh

Ashfaq Shaikh (Querist)

22 June 2021 Is it necessary to register a cash gift deed received from parents ?
Is Rs.100 stamp paper enough to draft a cash gift deed of about Rs. 15 lakhs to Rs. 30 lakhs.

CA Satish Badve

CA Satish Badve (Expert)

22 June 2021 Cash Gifts not allowed. For Gift through Cheque from Father Registration is not required.

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Ashfaq Shaikh

Ashfaq Shaikh (Querist)

23 June 2021 Thank You.
But is Rs.100 Stamp paper okay for drafting the gift deed for amount ranging from Rs. 15 lakhs to Rs. 30 Lakhs received by cheque from Mother / Father ?
Should the gift deed be notarized ? Is that necessary ?

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