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Gift Deed Required?

Debashis Aich (138 Points)

27 July 2020

Father gift to Son Rs. 20 Lakhs in Account. Any gift Deed required?

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 27 July 2020

It is advisable to keep gift deed with PAN details of donor/donee duly signed by both the party on stamp paper.

Debashis Aich (138 Points)
Replied 27 July 2020

Rs.10 Stamp paper

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 09 August 2020

There is no restriction regarding value of stamp paper.
But it's better to be on reasonable value
like...in you case you case use 100 to 500 stamp paper.

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