Gift deed
This query is : Resolved
10 May 2012
A son a large amount of money gifted to his mother before 1 year for property purchase wheather it complusory to exicute gift deed on stamp or not.
10 May 2012
It is not necessary to prepare a gift deed. The bank statement is proof of the gift.
However, the son should be able to substantiate the source of the income.
However, the son should be able to substantiate the source of the income.
10 May 2012
The gift was by cash not through bank as well as before 1 year and now we are filling income tax return and no stamp was purchased on the date of gift wheather we can purchase today's date stamp and exicute gift deed or not.
11 May 2012
Even in case of cash gift, gift deed is not required.
And as I mentioned earlier, please ensure that the son can substantiate the source of the gift.
And as I mentioned earlier, please ensure that the son can substantiate the source of the gift.
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