Cash gift to relative
Querist : Anonymous
Is it permissible under law to give cash gift of more than Rs 20 thousands to a relative ?
If my wife gifts money to my father than will the income from this gift be clubbed with my wife's income ?
Querist : Anonymous
Is it permissible under law to give cash gift of above Rs. 20 thousands.
Is a gift deed necessary in the above case ?
Is a gift deed on plain paper sufficient in the above case ?
Querist : Anonymous
However, your wife should be able to substantiate the source of the gift.
2. It is better to prepare a gift deed to avoid any problems.
Prepare a gift deed on a stamp paper of Rs. 10.
Querist : Anonymous
My wife is a salaried employee and tax payee.
Sir can a gift deed be made now for the amount gifted in AY 2011-12 ?
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