Covering letter

This query is : Resolved

Vivek (Querist)
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17 September 2012 Dear Sir,
Can you please provide me format of a covering letter of gift from father to son.

Thanks in advance.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 September 2012 Rather than covering letter it would be better to have a gift deed in place.

For gift deed format check out below link--

https://www.caclubindia.com/forum/details.asp?mod_id=106894#.UFcXOrLiaZk

Vivek

Vivek (Querist)
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17 September 2012 If assessee goes for gift deed, it would attract payment of stamp duty according to the amount of gift and back dated stamps would not be easily available. Whereas assessee just seeking a remedy for income tax purpose that he has taken a gift from relative. Whether the covering letter of said effect would work ?

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