29 June 2015
Respected experts , My grand father wants to gift me Rs 1 laks by Demand draft on my birthday . He is a farmer . Can he do that ? He dont want to make payment through his bank account because their children will creat a issue. Thats why he is choosing DD over account to account or by cheque payment so that it will not be in his passbook of account history to whom he invested that money . Accepting that amount by DD will be allowed for me ? i will make a gift deed for future purpose so that it will creat any problem for me .
30 June 2015
Absolutely no problem in that. Also ask him to write a letter to you about the gift he is giving you and keep the letter with you. It will be useful in the future. Make sure the letter is dated. A simple letter that a grandfather would write to his grandson but it should mention the gift. Keep it carefully it may prove very useful one day.
CAclubindia
