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Value of Stamp paper for Gift of Cash (Bank transfer)


14-Aug-2023 (In Family Law)
I have given a GIFT to my elder son and daughter-in law a Cash amount ( RTGS Bank transfer) of Rs 35 lacs and 65 lacs respectively. I have drafted a irrevocable and unconditional Gift deed and accepted by both . I dont wish to get it Registered with Registrar office as this is optional as per Indian Registration Act. Please suggest me the value of Stamp Paper to be used for Gift deed. Is Rs 100/- stamp paper OK or higher value stamp paper ?
Answers (3)

Answer #1
610 votes
If you do not wish to register the Gift Deed then the value of stamp paper hardly matters. You can get it done in Rs 100 stamp paper but it's advisable to get it notarized by a notary public. For more legal assistance I am just a call away.
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Advocate Jitender Singh

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Answer #2
679 votes
since you do not want to get it registered then a stamp paper of 100/- is applicable. ideally one should go for the registration of gift deed otherwise there might be problem for the relevant people later on. rest it is upto your prudence if you wish to get it registered or not
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Answer #3
980 votes
You have wrong perception of registration ! Any amount gifted worth more than Rs 100/- must mandatorily n compulsory registered ! Without registration this deed has zero value ! You need to hire expert advocate to get the gift deed drafted n registered! B in touch
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Advocate D. Khan

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KRDESAI
Normally father give money to his blood relatives main purpose to create income of them Or to save the tax liability for self. now income tax authority ask for proof for gifting or not?

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