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WHETHER GIFT DEED IS REQUIRED TO BE REGISTERED OR NOT

PRADEEP VASANTRAO THOMBRE (General Manager - Taxation) (60 Points)

08 April 2010

IF GIFT IS GIVEN BY CHEQUE FOR rS.50 LACS TO SPOUSE / DAUGHTER, WHETHER GIFT DEED IS REQUIRED TO BE REGISTERED.

P.V.THOMBRE

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4 Replies

bharat (ARTICLE) (86 Points)
Replied 08 April 2010

No, There is not any requirement like that....................

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 08 April 2010

It is preferable to make a gift deed on a Rs. 100/- stamp paper.

No need for registration.

Ayushraj (Professional) (125 Points)
Replied 08 April 2010

I don't think any Stamp paper is required (for cheque/ cash gifts). Writing a plain typed note on a paper will generally suffice. Mention the names of persons, their relations and that the gift is being given out of love and affection. Sign the said Gift note and preferably in presence of 2 witness. Registration is also not required, but if the parties desire they can get the same registered the Reg. Fees for the same would be Rs. 100/-. Registration will make the evidence of Gift firm (Only in case that if the person who gifted dies his/ her legal heirs would not dispute and claim the amount back in future)