Gift received from a relative
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2013
Does the Income tax Act require a gift by cheque received from a 'relative' to be evidenced by a gift deed?
Does the Income tax Act require a gift by cheque received from a 'relative' to be evidenced by a gift deed?
CA PARAS BAFNA
(Expert)
19 July 2013
The act requires that the transaction should be genuine and to show it as such gift deed is required to be prepared even in case of "Gift by Cheque".
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
