Gift to grand father for conducting business
This query is : Resolved
ABDUL RAHMAN CHOUDHARI
(Querist)
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
Message likes :
1 times
ABDUL RAHMAN CHOUDHARI
(Querist)
28 December 2013
thanx sir
31 December 2013
agreed with the above reply.
CA Pallav Singhania
(Expert)
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.
ABDUL RAHMAN CHOUDHARI
(Querist)
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
ABDUL RAHMAN CHOUDHARI
(Querist)
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.
ABDUL RAHMAN CHOUDHARI
(Querist)
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
Dhirajlal Rambhia
(Expert)
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.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
