Gifting of money

If your Son is not minor,there is no tax liablility on either side ,The interest income up to 250000 will not be taxable in the hands of your Son(since there is no other income of your son) and it will also not be clubbed with your income.The money you have gifted to your Son will not be deemed to be the income of your son.Gift deed must be prepared for that.

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Sir,

Is gift deed must ?