Gift tax

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
07 April 2018 I have taken total 9 lakh from brother through online banking in fy 2017-2018( 2 lakh on 4-april-2017, 2 lakh on 10 may 2017, and 5 lakh on 18-dec-207). All the transaction are through online banking. Then I have returned back 9 lack to my brother through online banking on 1-jan-2018. As per my knowledge all above transaction are non-taxable events( Gift). I and my brother have not made any GIFT deed for the above transactions. Is it compulsory to make GIFT deed for online banking transaction in blood relations to show as gift. If GIFT deed is compulsory, then Can we make one gift deed of all the above transactions now and if yes then how we can make gift deed for backdate online transactions

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
07 April 2018 No need to any documents required for the above said details. These transactions like just we deal as loan receive then returned...

08 April 2018 also gift deed is not required movable property.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro

Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news


Answer Query



Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details