25 September 2009
Suppose one person gives Rs.5 Lacs to his relative so what is suuficient proof required for claiming exemption . how much value of stamp paper is required
25 September 2009
It is the responsibility of the donee to prove the guineness of donor. It is also the responsibility of the assessee to prove that the donor is having sound financial position to give the gift. The gift should be real. It will be better to accept the gift through cheque or D.D. Gift deed has to be prepared on the stamp paper of Rs. 100/-.
27 September 2009
Caoacity , Genuineness, Creditworthiness,occasion to making gift & blood relation, through banking channel.... these are the requirement for claiming gift..... As per the Various court rulings... Gift Deed declaration, Through cheque or banking channels, etc just pay stamp duty of Rs.100
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