GIFT DEED

Querist : Anonymous (Querist) 28 September 2010 This query is : Resolved
As there is no gift tax if Donor & Donne are in blood relation i.e brother to brother; Parents to Son/Daughter etc.. irrespective of amount whether it is by cash or Securities or immovable or movable properties. In the circumstances is it mandatory to make a gift deed on Stamp Paper. As far as Immovable properties are concerned Stamp Duty is to be paid but if it is of say Shares & securities Or by Bank Transaction is it mandatory to make GIFT DEED on STAMP PAPER. If yes what should be the value of it as gift is made in consideration of natural love & affection. Regards,

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Devajyoti Barman (Expert) 28 September 2010
For gift of the movable property the registration is not mandatory and it could be made on any stamp paper.

Rajeev kulshreshtha (Expert) 30 September 2010
Mr. Barman is right.In gift deed no consideration shall be mentioned as you say the consideration is natural love and affection.

Ajay Bansal (Expert) 30 September 2010
MR. BARMAN IS CORRECT.

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