Hi,
I was ltl surprised when I heard that there are changes in the Gift Tax act whereby the New gift given or the deed needs to be made on a STAMP PAPPER??? the said is in Effect from the year 2009. Is that true????
I couldnt find the said changes any where... kindly confirm the same...
Dear Ketan,
GIFT TAX ACT HAS BEEN REPEALED SINCE LONG BACK..
It has not been repealed... nd avoid CAP letter....
There are changes in the ACT... in the last budget.... specifically for the gift of Immovable property gift....
Now to get back to my query... as I understand a normal letter is required for the gift deed... but someone just told me that there are some changes where one is required to Make the Deed on stamp papper only....
Stamp papper is reqd only for the Immovable property Gift... are there any modifications for the same???
CAclubindia
