Taxation of gifts
This query is : Open
26 January 2017
P1stays in mumbai has inherited a amount FD from his brother in Anjar( Gujarat state) , who is deceased and had put P1's name in nominee , is it necessary to register a gift deed? if yes then please tell me the procedure
please tell me whether mere having nominated in FD can d nominee become legal owner of the amount?
CA R SEETHARAMAN
(Expert)
26 January 2017
No need of for register any gift deed. Mere nomination in FD, the nominee become legal owner of FD in view of death of the person deposited FD.
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