Rakesh (Others) (147 Points)
04 November 2014In 1988 My father gifted me some cash , To support that transaction , he made a gift deed on a water mark paper . Along with him and 2 witness i also signed on deed . It was not notarized also.
Now My financial adviser says it is not valid because it was not made on stamp paper .
Was it necessary to make gift in stamp during 1980-1990 ?
My father used official water mark paper , isn't authentic ?
Mihir
(Wealth Manager)
(5293 Points)
Replied 05 November 2014
Yes, it is valid document. And since the transaction is so old, nobody will investigate.
Swami Ayyappa Nuli
(TAX ADVISOR & CONSULTANT AT G.S.T SUVIDHA CENTER)
(1372 Points)
Replied 05 November 2014
Gift of movable property like cash need not to have registration. For Registration purpose only you need to have gift deed on Stamp paper, hence no problem as Mihir said.
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