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Gift by Father to Son
A father gives cash gifts at different time intervals to his son. My query, is each cash gift needs a separate gift deed or no need of any gift deed as blood relationship???
Replies (6)
No need any gift deed...
(But, If amounts big then better to prepare a deed/letter for future reference. It's my advice only).
No not desirable
You can make one gift deed towards the year end and write the full year's details in one document itself.
Gift deed is there for property only. Stamp duty applicable
Tds applicable if it's a business or professional only 10%
GST on gift applicable between employee and employer with a threshold 50000
Blood relation can be termed as gift
Non blood relation can also be termed as gift.
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