If i gift cash to my relative ( listed under it department )
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 October 2014
dear experts ,
i want to gift my brother 1 lacs cash . can i ? or will i have to make a gift deed ?
every year i was gifting to my brother but i never made a gift deed ? will my brother face any problem ? if yes then what should i do now ? should i prepare a declaration of gift deed now ? will this deed support him ? since he is a salaried employee and and he files a itr .
suggest me .
i want to gift my brother 1 lacs cash . can i ? or will i have to make a gift deed ?
every year i was gifting to my brother but i never made a gift deed ? will my brother face any problem ? if yes then what should i do now ? should i prepare a declaration of gift deed now ? will this deed support him ? since he is a salaried employee and and he files a itr .
suggest me .
31 October 2014
Yes you prepare a declaration gift deed it will support him in income tax.
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