gift (cash) received from my mother in law
This query is : Open
Prasanna Kumar K S
(Querist)
26 November 2016
gift (cash) received from my mother in law(and she is also my father's sister) whether it is exempt from tax
CA. Vinodh Kothari
(Expert)
26 November 2016
Yes exempted you need to prepare gift deed for the same.
VK
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Prasanna Kumar K S
(Querist)
26 November 2016
sir thank you very much.is It ok to prepare gift deed on plain paper or it needs stamp paper
CA. Vinodh Kothari
(Expert)
26 November 2016
Better to take on Stamp and get it notarized
Prasanna Kumar K S
(Querist)
26 November 2016
sir thank you very much
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