Gift regarding

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2013 Dear Sir,
Suppose father gives a cheque to his son of Rs. 5 lacs as gift. Please provide me format of covering letter for the same. And one more thing to ask, that whether the said letter is sufficient to prove gift or there is gift deed is mandatory to draft.
Thanks in advance.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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05 January 2013 Please find the format of gift deed-

http://paryca.org/images/Legal%20Due%20Diligence/Gift%20Deed/format%20of%20gift%20deed.pdf

Message likes : 1 times

@VaibhavJ

@VaibhavJ (Expert)
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05 January 2013 Hey Hi,

Confirmation of Gift of money can done be on a plain paper by way of a gift deed, there is no necessity of stamp paper.

Simple format of deed:

GIFT DEED

KNOW ALL MEN BY THESE PRESENTS that I, _____________ S/o Sh.___________ r/o ____________________, transfers voluntarily, CASH OF value of which is Rs._____________ (Rupees_____________ only) to my SON/HUSBAND/SON IN LAW SRI.____________ S/o of Sh._________________ (hereinafter referred to as "the donee") To Hold the same to the donee absolutely forever. I further declare that the said gift has been made by me out of my natural love and affection for the donee and the same has been accepted by the donee.

IN WITNESS WHEREOF, I have executed this deed this ________ day of __________.

Witness:

1.

DONOR

2.

DONEE

I, SRI. ______________, the donee hereby accept the gift.

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