S S Singh (Sr. SE) 30 April 2009

Gift Deed

I had received gift cheques from my father, mother and wife in May 2008 for the purchase of flat in my name.

However, then we were not aware that gift deeds should be made. Can Gift Deeds be made now mentioning the gift details?

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9 Replies

New Joinee (none) 30 April 2009

Would also request for the format of the gift deed and necessary procedures / formalities involved.

Thanks

Manasi Save (Legal Practioner) 30 April 2009

Definitely gift deed can be drafted even now.

A V Vishal (Advocate) 30 April 2009

GIFT DEED

KNOW ALL MEN BY THESE PRESENTS that I, _____________ S/o Sh.___________ r/o ____________________, transfers voluntarily, CASH OF value of which is Rs._____________ (Rupees_____________ only) to my SON/HUSBAND/SON IN LAW SRI.____________ S/o of Sh._________________ (hereinafter referred to as "the donee") To Hold the same to the donee absolutely forever. I further declare that the said gift has been made by me out of my natural love and affection for the donee and the same has been accepted by the donee.

IN WITNESS WHEREOF, I have executed this deed this ________ day of __________.

Witness:

1.	DONOR
2.	DONEE

I, SRI. ______________, the donee hereby accept the gift.

MODIFY THE FORMAT SUITABLY BY ADDING THE AMOUNT AND CHEQUE/ D D NOS'

New Joinee (none) 01 May 2009

Thank you

S S Singh (Sr. SE) 01 May 2009

Kindly suggest on stamp paper of how much cost Gift Deed should be made?

Also can it be made in any city even where we don't have residence?

BHANU RASPUTRA (ADVOCATE & SOLICITOR divyatta.r@gmail.com) 01 May 2009

AS PER MY VIEW GIFT DEED NEED NOT BE MADE , AS it is gift in terms of money. IN case of gift of money , it is option to execute gift deed. u can ask ur C.A... WHETHER gift deed is required at the tim eof filling return or at the time of scrutiny.

A V Vishal (Advocate) 01 May 2009

Dear Mr Singh

It is not necessary to execute the gift deed on a stamp paper. But have the same notarised that should be sufficient, registration of gift deed is necessary only in case of immovable properties.