Significance of gift deed


This query is : Resolved 

07 October 2019 Hi

What is the significance/ requirement of Gift deed, when gift is received from real brother?
In which legal formality will it be required?

07 October 2019 Gift deed is mostly executed when the gift involves a real estate property. These kind of gift deeds should be registered to get a clear title.

07 October 2019 if it is about transferred money, what's its importance under income tax?

08 October 2019 It is not taxable under IT Act

09 October 2019 It's better take gift deed for money received by way of gift.


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