Cash gift
This query is : Resolved
20 September 2012
Dear Sir,
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
20 September 2012
yes AO should accept
20 September 2012
gift by father, mother, and closed blood relatives will be acceptable
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
20 September 2012
Yes Gift deed can be drafted on Plain Paper if its from close Relatives
20 September 2012
yes if it a genuine transaction, Onus to prove the non genuine tr. is on Revenue.
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