Gift deed
This query is : Resolved
manoj rathod
(Querist)
30 November 2011
dear experts
suppose i give gift of Rs. ONE LAC to my brother's wife, I Made gift deed on stamp paper of 100 Rs. but the gift deed is not affidavited or notarised,
will IT department accept it or not
is affidavit compulsory for gift deed
pls reply
thanking you
suppose i give gift of Rs. ONE LAC to my brother's wife, I Made gift deed on stamp paper of 100 Rs. but the gift deed is not affidavited or notarised,
will IT department accept it or not
is affidavit compulsory for gift deed
pls reply
thanking you
CA PARAS BAFNA
(Expert)
30 November 2011
It is not necessary to get notarised the gift deed. Only thing, which may be told to prove is the genuineness of the transaction. You must have shown the gift correctly in both the returns.
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