GIFT DEED
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2011
Do a gift deed is required for giving gift in cash to a younger brother. And do the person giving gift get exemption for the said amount.
13 February 2011
No Exemption for giving gift. Gift deed is not mandatory but it is advisable to make a gift deed for income tax purpose in case the the the receiver of gift is required to provide evidence of the receipt of Gift.
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