Giftdeed

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2011 MY MOTHER WANT TO GIVE GIFT OF RS 100000 ON MY BIRTHDAY.
FROM THE INCOME TAX POINT ,WHAT I HAVE TO MAINTAIN DOCUMENT?

HOW TOP PREPARE GIFTDEED?

IS FRANKING REQUIRED?
IF I WILL DO ,THEN WHAT IS NEWT STEP?
IS ALL PROCEDURE RELATING TO GIFTING COMPLETE?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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09 December 2011 The Above Gift is fully exempt from tax. Just make a gift deed on 50 or 20 Rs stamp paper. No Franking required. This is just for safety purpose in case of Income Tax Scrutiny.

For format of gift deed check out below link-

https://www.caclubindia.com/forum/some-useful-letter-and-deed-formats--106894.asp

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2011 thanks a lot!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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