Gift deed
Karthikeyan.S
(Querist) 29 May 2012
This query is : Resolved
Dear Sir
3 months ago I bought a residential plot from my Father in law on my Wife name by paying full cash.
To save Reg Charges this has been registered as gift deed without any considrarion.
8 Lakhs I already paid as cash and Rs.5.5 Lakhs transferred thro bank.
Now for my safe side I would like to have a receipt/affidavite in order to avoid claim that they gave at free of cost.
1. Can any one suggest what I should do?
2. A draft of affidavite to take cash receipt/with consideration.
S Karthikeyan
ajay sethi
(Expert) 29 May 2012
we dont advise querists to indulge in tax evasion .
you are penny wise and pound foolish .
you ought to have made cheque payment paid stamp duty and had agreement regsitered .
you paid entire money by cash . if tomorrow your father in law gives receipt of cash payment and it is detected both of you will be in trouble .
similarly if he gives an affidavit you wont be able to rely upon said affidavit in court of law .
Suhail A.Siddiqui
(Expert) 29 May 2012
Nothing more about your act "penny wise and pound foolish"
Shonee Kapoor
(Expert) 30 May 2012
:-)
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
RAJU O.F.,
(Expert) 31 May 2012
Since the gift deed is already registered, the property is devolved in the name of your wife. We don't know as to whether it was an ancestral property having claim by others also. However, if you start digging for evidence for payment of consideration, it will only strain your relationship with your in-laws and hence not advisable.
