Gift

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jenith

jenith (Querist)
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28 March 2012 Is there any limit on gift money to family memebers?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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28 March 2012 There is no limit on gifts to relatives. However, the donor should be able to substantiate the source of his income.

jenith

jenith (Querist)
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28 March 2012 Thank you very much for prompt reply. DO i have make gift deed in Rs 20 stamp paper?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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28 March 2012 Are you gifting an asset or cash?

If you are gifting an immovable property, then you need to get is registered. There is no need to prepare a gift deed.

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jenith

jenith (Querist)
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28 March 2012 i am gifting cash only.
Me and my father wants to gift My wife.

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