banner_ad

gift deed-----cash rs 70000

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 July 2008 if a person gifts to his spouse RS 70000/- in cash (as sec 56 says "any sum of money" it means in cash)then whether there is any need to execute gift deed on stamp paper.
it can be done on simple paper
Profile Image

pushpendra

Profile Image

pushpendra (Expert)
03 July 2008 It is not mandatory but advisable to execute on Rs. 10/- stampt paper and get notoriesd so that it will be easy to prove the transaction whenever needed .

but this transaction is subject to the provisions of sec. 60 to 64.

Profile Image

student

Profile Image

student (Querist)
03 July 2008 if the gifted amt is partially invested by the spouse for purchasing a flat then whether the clubbing provision is applicable.
Profile Image

mohinder kansal

Profile Image

mohinder kansal (Expert)
04 July 2008 it is better to execute the gift deed on stamp paper, although it is not required. may be on simple paper signed by donor and accepted by donee.

if flat purchased from the money gifted and income earned same will be clubbed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details