Hi , Since Gift amount < 50000 is no longer taxable in the hands of donor or donee , what should be the ideal procedure is to avail same , Is any document need to be produce during IT return.
rashmi
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Gift Tax
Replies (4)
only gift deed is required on simple paper in case of movable assets
yes Devanshi is right and nothing else ......
Dear Rashmi,
I agree with Devanshi, since no document is prescribed by law a simple paper deed will suffice in this case..
agree with all.....no document is required just a simple deed will do...
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