Vinay Kamal (45 Points)
26 September 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 26 September 2021
JGM
(Knowledge Sharer)
(443 Points)
Replied 27 September 2021
While there is no statutory requirement of executing gift deed for gifting money, it is advisable to have one as it will help the recipient to explain the source to the Authorities
J S BHAVSAR
(CONSULTING)
(1288 Points)
Replied 28 September 2021
For higher amounts, better to have gift deed.
CAclubindia
