Gift - mere bank transfer, clubbing
This query is : Resolved
20 November 2015
Father would like to gift money from his bank account to Children's(above 18 years) bank account so as to avoid tax on interest earned from that money.
Should a formal Gift deed be entered or a mere bank transfer enough, in order to treat it as a gift ?
20 November 2015
Bank transfer with gift deed in plain paper will do.
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