Gift from father

Originally posted by : Suresh Parmar
	respected allplease suggest me regarding gift deed that1. what is the time limit to prepare gift deed if cash received from father exceeding Rs. 50000.00 in 5 to 10 years back.2. how to prepare that..?kindly request you to help me in this..

Kindly mention year in which Father Give Gift in Cash 

So that All Respected CA CLUB Member can give Best Opinion.

In year 2013

Generally, Gift deed is required to be prepared on stamp paper, but it's not possible in your case.
If you have old blank stamp paper than you can prepare gift deed on same.
Otherwise you can take only confirmation of Gift from you father.

Are you want to submit anywhere?

No sir i dont want to submit anywhere but just for legality purpose i want to do that

Gift made by way of cash or cheque does not mandatorily requires to be executed through a gift deed. Writing a plain typed note on a paper will generally suffice. It is not required to be stamped and registration is also not needed. Mention the names of persons, their relation and that the gift is being given out of love and affection. However, a gift deed can be made in stamp paper for such purposes also and people generally prefer on stamp paper to look more authentic.

Gift made by way of movable property is required to be made in stamp paper and stamped by the notary or court. Registration of gift deed is not required in case of transfer of moveable property. The deed is required to be signed and preferably in presence of 2 witness. Registration is not required, but if the parties desire they can get the same registered.

For the purpose of making a gift of immovable property, the transfer must be effected by a registered instrument signed by or on behalf of the donor, and attested by at least two witnesses. Gift of immovable property which is not registered is not a valid as per law and cannot pass any title to the donee. Deed should be stamped with the appropriate non-judicial stamp, be registered as required and attested by two witnesses. Mere delivery of possession without a written instrument cannot confer any title.

So As there is no option of stamp paper, You can make gift deed on plain paper duly signed by both the party.

Thank you sir

You are most welcome, sir