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Gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 August 2015 I want to give Rs. 5 lakh to my son as a gift. Is any procedure to be followed under Income Tax Act.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 August 2015 there is no specific procedure but better you make a gift deed as an evidence.
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