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Vinay Kamal   26 September 2021

Gift deed is required for transfer of money in blood relation

I have gifted Rs. 10lac to my brother and now I want to know whether gift deed is required or not.


 5 Replies

Sourav

Sourav (Student)     26 September 2021

Yes deed is necessary
Shankar Rugge

Shankar Rugge   27 September 2021

Better to have gift deed

JGM

JGM (Knowledge Sharer)     27 September 2021

While there is no statutory requirement of executing gift deed for gifting money, it is advisable to have one as it will help the recipient to explain the source to the Authorities

J S BHAVSAR

J S BHAVSAR (CONSULTING)     28 September 2021

For higher amounts, better to have gift deed.

Abhinav Singh

Abhinav Singh (Dentist)     28 September 2021

Yes for a higher amount, a gift deed is better.


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