28 December 2013
I have gifted cash which is more then 50000, to my grand father he already runs a proprietary business. And will be using the cash for expanding his business activities. My question is should I prepare a gift deed and will the income which is arised from conducting such business will be clubbed to my income.
28 December 2013
You should prepare a gift deed and the income will not be clubbed as your grand father is your blood relation. Generally elder gives gift to youngers but you have changed the trend
31 December 2013
yes,however you are gifting cash cash... you should prepare a gift deed..
A gift deed is a deed, that is executed and delivered in which the donor transfers title to the receiver without any payment or considerations.
It a document which transfer the legal title of the property to the donor, where the consideration is not monetary but is made in return for love and affection.
03 October 2021
Stamp duty is not applicable, if not registered. Make an affidavit on rs. 100/- stamp paper, both parties signing in consent; that's all.
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