Gift from blood relations
Querist : Anonymous
1. Nephew gifting 10 lacs to aunt (wife of father's brother)
2. Daughter gifting 5 lacs to father.
3. Can a property be gifted?
4. Is there any limit to the amount of gift.
5. What documentation is required?
2. There is no problem in this case.
3. Yes but only through a registered gift deed.
4. Rs. 50000/- in case of non relatives and no limit in case of relatives.
5. Gift deed optional in case of gift of movable property and compulsory in case of immovable property.
Querist : Anonymous
However, request you to reaffirm in case of nephew gifting aunt.
Querist : Anonymous
1. Daughter receiving gift from father’s cousin sister.
2. Son/Daughter receiving gift from cousin brother/sister.
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