Gift Deed

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2010 I am selling my flat which was gifted by my wife in 2009 via making gift deed, this property was in joint name me & wife. As i am selling this property & buyer's bank want to have original gift deed for their recore along with the sale agreement.
I wanted to keep the original gift deed with me for Income Tax perpose.
I had beed advised that certified true Copy of gift deed can be acceapted by income Tax department for taxation perpose.
Need your Advice.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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22 December 2010 Sir,

In income tax certified copy of Gift Deed will be sufficient. In case, the ITO insists you to produce the Original Gift Deed, you may explain the matter to him.

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