Gift

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DEEPAK AWCHAR

DEEPAK AWCHAR (Querist)
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07 August 2017 Pitaji se24 lac ka ghar gift me mila, To taxable rahega ki taxfree

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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07 August 2017 yeh gift tax free hai. lekin ek gift deed execute Kariye to avoid future problems

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 August 2017 Agar koi gift relative se receive hota hai to wo taxfree hai. Legally prove krne ke liye better hai ki ek gift deed exevute kr di jaye.

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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07 August 2017 Rashmi ji, well explained in hindi. I'm not that comfortable in hindi

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 August 2017 No problem dear. But you explained well even not comfortable in hindi.

DEEPAK AWCHAR

DEEPAK AWCHAR (Querist)
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07 August 2017 Thank you....

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CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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07 August 2017 Welcome........

Anand

Anand (Expert)
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08 August 2017 Just a question, is it advisable to have gift deed on stamp paper? Or would it be ok to have it on a normal piece of paper duly signed by the concerned relative

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K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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08 August 2017 Depends on the gift, I'dsay.

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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08 August 2017 if it's an immovable property, obviously it requires that you register it with the Registrar office

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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08 August 2017 For other gifts, based on the value you may execute it on stamp paper. Stamp paper could be of Rs.100 value minimum