Tax exemption on gift

v.raj (individual) (104 Points)

24 July 2018  

In respect of Gifts from a blood relative, tax is not payable in the hands of the receiver.

Someone wants to gift a certain sum to his brother as gift out of natural love and affection.

Is it necessary in this case to make a proper Gift Deed, get it registered etc. or a simple letter to the brother giving the amount as gift will be acceptable.

thanks