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?
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".
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