Gift from grandfather

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2012 Hi
my grandfather gifted me rs/- 7lakh through cheque. He is prop. in a firm. Cheque is from that firm. Is it ok. can he gift by the cheque of the firm or gift cheque should be from his saving account?

Is gift deed compulsory?

06 May 2012 Yes he can gift by the cheque of the firm
in which he is a partner.
.
It is compulsory to make a gift deed.
.

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 May 2012 thank you sir


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