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
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
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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