Gift from grand father

San J (Professional ) (127 Points)

07 June 2014  

Dear Sir,

I want to take cash of  Rs. 15 lacs through cheque from grand father.

want to know formalities such as

1] Is this necessary to take and execute gift deed on bond?

2] What if I take such amount in cash ?

3] What is the scope of meaning of relative?

Kindly resolve query at earliest.

Thanks to all.