Gift from father to son

My father want to gift a fd to me. Does it require a gift deed ? Also will any tax liability will be for me?
Replies (3)
Quick Summary
If your father is gifting you a Fixed Deposit (FD), you're likely wondering about the need for a formal gift deed and any associated tax liabilities. Generally, for monetary gifts like an FD from a parent to a child, a gift deed isn't required. Furthermore, there are typically no tax implications for either the giver or the receiver in such cases within the UK.

Exempt and No document needs.
If it's an tangible property then gift deed is required.
No tax liability to both parent and the child
its not necessary to make any gift deed

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