Gift

This query is : Resolved

CA BISHAN AGARWAL (Querist)
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18 September 2011 Whether Gift deed should be notarized or simply we can make a deed on stamp paper and it will be enough

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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18 September 2011 I think on stamp paper sufficient.
OM SAI SRI SAI JAI JAI SAI

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 September 2011 No need to get it notarized. Just make a Gift deed on Rs 50 stamp paper duly signed by donor and accepted by donee.

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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20 September 2011 I do not agree with the experts. It depends what is gifted. If it is land or building then you have to pay proper stamp duty and the Gift deed is to be registered with the Sub-Registrar, If the Gift is for other than Immovable property then it is required to be executed on stamp paper of Rs. 1000/- and it should also be notarized. If the gift deed is for cash or Bank draft or cheque then the signature of two witnesses is sufficient but it should be executed on stamp paper of Rs. 10/- or more on the basis of value of the gift.

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