In 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 ?
Yes, it is valid document. And since the transaction is so old, nobody will investigate.
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.
agreed with above discussion
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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