Gift deed for cash gifts

For giving cash gift to my wife and daughter, do I need to create a gift deed and then notarize it? Would there be any tax implications if I do not notarize?

Reply Follow

3 Replies

Siddharth Srivastava (Advocate) 05 September 2017

Yes you shall be required to excite proper gift deed, have to get the gift deed registered, pay required stamp duty of 2 per cent. Tax complication will arise as it is a matter of cash. Sidharth 9811776422

Siddharth Srivastava (Advocate) 05 September 2017

Yes you shall be required to excite proper gift deed, have to get the gift deed registered, pay required stamp duty of 2 per cent. Tax complication will arise as it is a matter of cash. Sidharth 9811776422