Better to have gift deed
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
For higher amounts, better to have gift deed.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
