gift deed of money to sister

Mr. Tarun

In your case no gift deed is required.  You can give a confirmatory letter to enable your sister to show the tax authorities if they ask for the sources of the funds. I am giving the format hereunder:

 TO WHOM SOVER IT MAY CONCERN

I, Tarun, son of Sri___________________________________, resident of _____________________________ dohereby confirm that I have gifted a sum of Rs._____________/- (Rupees _________________________only) to my sister Ms.________________ resident of ______________________________out of love and affection vide cheque No.__________dated___________drawin on__________________________.

The sources for the above gift are  savings out of my salary income/savings out of business income (as the case may be).  I futher confirm that I am an Income-tax Assessee with PAN______________.   I am regularly filing my retuns of incme with _______________________ (Assessing Officer)_______________________(Range)_________________,

I am herewith attaching a copy of  my assessment order/acknowledgement for filing return of income (as the case may be) for the assessment year __________.

                                                                                                                                                                                  Singnature.

The above letter may be modified in case of non-assessee donors as needed.

Best Wishes

Sathikonda

thanq sathikonda anumanchipalli

i want to gift rs 500000/- to my daughter. whther it is taxable? can i have to paid stamp duty?