Fund transfer query

My mother wants to break her fixed deposits and transfer that amount to my account. 

1-So can we do this without making any gift deed?

2-Do we have to declare this amount in ITR? 

Replies (2)
Quick Summary
This discussion addresses queries about transferring funds from a mother's fixed deposits into her child's account. It explores whether a gift deed is necessary and if the amount needs to be declared in income tax returns (ITR). Advice suggests a gift deed might be beneficial for future needs, and while one response indicates no ITR disclosure is required, another advises declaring it as exempt income from a relative.

1) it is better to have a gift deed for future requirements if any

2) no need to disclose the same in ITR

1) It's better to have a gift deed for future requirements if any

2) Need to be disclose the same in ITR as exempt income as Gift from relatives

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