20 September 2011
I do not agree with the experts. It depends what is gifted. If it is land or building then you have to pay proper stamp duty and the Gift deed is to be registered with the Sub-Registrar, If the Gift is for other than Immovable property then it is required to be executed on stamp paper of Rs. 1000/- and it should also be notarized. If the gift deed is for cash or Bank draft or cheque then the signature of two witnesses is sufficient but it should be executed on stamp paper of Rs. 10/- or more on the basis of value of the gift.
CAclubindia
