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Gift

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(Querist)
23 April 2014 IF I Want to Give Gift 15 LAC to my Sister. And it is exempt under IT act. RIGHT.?

Does the Mode of Transfer creates any problem..?
I mean Can i transfer the whole amount through net banking or i should give her number of cheques..?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 April 2014 yes it is exempt...the mode doesn't make any difference.
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Rupesh Jain

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Rupesh Jain (Expert)
24 April 2014 gist is exempted, mode of tfr is also right. but one more thing you can do
pls make gift deed for that gift . it useful for both.
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