Gift


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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2010 I want to take gift of rs 6lakh from my fatherin law to start jewellery business.whether any tax implication?whether any record formality?

09 September 2010 AS FATHER IN LAW IS UNDER RELATIVE NOTHING WILL BE TAXABLE.
IT IS BETTER TO MAKE A GIFT DEED.

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2010 whether gift deed is to be prepared on plain paper or stamp paper?is stamp paper then how much amount of stamp paper?

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2010 gift on stamp paper or not

10 September 2010 A plain paper will also be sufficient.

10 September 2010 in my opinion it is better to prepare the deed on stamp paper.


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