gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 April 2010 My wife recd a gift from her father for Rs. 10,00,000.00 , Both are I.T. assesse,the above amount was transfer from bank accounts ,since the above is tax exempted , what are the documents that i have to produce to the I.T. dept. if asked for

27 April 2010 SINCE THE AMOUNT INVOLVED IS HUGE IT WOULD BE IN THE BETTER INTEREST TO EXECUTE A GIFT DEED. APART FROM THAT YOU CAN SHOW THE AMOUNT RECEIVED THROUGH YOUR BANK ACCOUNT STATEMENT.

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 April 2010 can the gift deed made after the payment is made.


27 April 2010 yes gift deed should be made.

27 April 2010 prepare a gift deed on a simple paper..... and mention the date of transfer as gift deed date



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