Gift to grand father for conducting business
This query is : Resolved
28 December 2013
I have gifted cash which is more then 50000, to my grand father he already runs a proprietary business. And will be using the cash for expanding his business activities.
My question is should I prepare a gift deed and will the income which is arised from conducting such business will be clubbed to my income.
My question is should I prepare a gift deed and will the income which is arised from conducting such business will be clubbed to my income.
28 December 2013
You should prepare a gift deed and the income will not be clubbed as your grand father is your blood relation. Generally elder gives gift to youngers but you have changed the trend
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28 December 2013
thanx sir
31 December 2013
agreed with the above reply.
31 December 2013
yes,however you are gifting cash cash...
you should prepare a gift deed..
A gift deed is a deed, that is executed and delivered in which the donor transfers title to the receiver without any payment or considerations.
It a document which transfer the legal title of the property to the donor, where the consideration is not monetary but is made in return for love and affection.
you should prepare a gift deed..
A gift deed is a deed, that is executed and delivered in which the donor transfers title to the receiver without any payment or considerations.
It a document which transfer the legal title of the property to the donor, where the consideration is not monetary but is made in return for love and affection.
31 December 2013
If gift deed is prepared then stamp duty as applicable will be required to be paid.
31 December 2013
@SAMPAT
Can u give a link regarding the provision or stamp duty
Can u give a link regarding the provision or stamp duty
31 December 2013
@Sampat
Can u provide a link where I can refer the provision relating to payment of stamp duty and the amount thereof
Can u provide a link where I can refer the provision relating to payment of stamp duty and the amount thereof
31 December 2013
You need to appoint a lawyer in ur state for making gift deed and it depends on the value of gift.
31 December 2013
Dear,
My value is rs 200000 what can be an approx. Figure of stamp duty
My value is rs 200000 what can be an approx. Figure of stamp duty
03 October 2021
Stamp duty is not applicable, if not registered. Make an affidavit on rs. 100/- stamp paper, both parties signing in consent; that's all.
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