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Gift deed for income tax

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my daughter and my wife given to me gift by cheque, Gift deed is compulsory for income tax purposes
Replies (2)
Gift from relatives are fully exempt under IT act
If it is by cheque there is no requirement of executing gift deed still you can execute a gift deed on a Rs 100 stamp without notery for your documentation purpose. If gift is in kind like immovable property then there is compulsory to execute proper gift deed with notery.
I faced this problem practically that's why have knowledge about it. Still you can take advice from any CA.


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