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Loan/gift to adult son - documentation required

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(Querist)
03 August 2017 Sir
I gifeted my son 3 lac rs and also gave him 5 lac rs loan for his study abroad.

what documentation should be done to record these transactions in case of scrutuny?
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
03 August 2017 Since the gift amount is less, i'd suggest that you document it in a single paper listing out the details of such gift (for what purpose, by what way etc) and both you and your son can sign.

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