• Cash gift deed

My father in law has gifted a sum of Rs. 6 Lacs to his daughter i.e. my wife by depositing both cash & cheque in her savings bank account. Do I need to prepare a gift deed in stamp paper . If required, is it required to be notarized. Also, what should be the format for the deed.Any other requirement? Kindly, advise.
Asked 2 years ago in Taxation from Dibrugarh, Assam
your facts are silent as to the reason for the gift. please state that. if it is given during the marriage, u don't need a gift deed.
Shaveta Chaudhary (Sanghi)
Advocate, Chandigarh
821 Answers
60 Consultations
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It is exempted from tax. You may make a gift deed on a stamp paper merely stating that such an amount had been gifted by the father. Both father and daughter shall sign and daughter shall make a statement that she received such amount as gift. Get a simple notarisation.
Shaveta Chaudhary (Sanghi)
Advocate, Chandigarh
821 Answers
60 Consultations
5.0 on 5.0

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