Gifting of money by parent to adult son/daughter

889 votes

Dear queerest gift of moveable property including cash or amount does not mandatorily require registration. But it is advisable to execute a gift deed for record and taxation purpose. The gift amount Will be taxed in the hands of.

Regards
Rakesh V.space Misar
Kachwala Misar and company
Advocates and solicitors
Mumbai

Advocate Rakesh Misar LawRato

703 votes

hello
am advocate Smita Mendhe
it depends on amount
or property it better for u r future
and it is not mandatory for registration of will feed deed u can go through notwry also
notwry documents also valid
it a proff of u r legally hair of yhaythat money for futhrr proceedings u contact me in my office

Advocate Smita Sachin Mendhe LawRato

756 votes

If you have been receiving Gift from your Parents whose value is more than 100 Rs, then you must execute a Gift Deed with your Parents & get that Gift Deed Registered & pay Stamp Duty on it. In Maharashtra, Stamp Duty on the transfer of Property through Gift Deed amongst the closed Blood Relations is Rs 200.

Advocate Pankaj Bajaj LawRato