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Do gift deed is compulsory.

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(Querist)
28 December 2020 Sir,

I want to gift money to my wife whether i have to prepare Gift Deed. Is it compulsory.
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
28 December 2020 As per section 123 of the Transfer of Property Act, the transfer of a gift of immoveable property must be effected by a registered instrument signed by donor and attested by two witnesses. For moveable property such as a car, such a registration is not mandatory and transfer can be achieved by delivery
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