Can a gift deed be made for different cheques on single stam

 

(Querist)
26 January 2021

PLZ SUGGEST WHETHER A SINGLE STAMP CAN BE USE FOR DIFFERENT CHEQUES RECD FOR GIFT


kavksatyanarayanaOnline (Expert)
26 January 2021

Your query is not clear. However, to my understanding, if the Gift is cash through cheques, the stamp is not necessary for movable gifts.

Hemant AgarwalOnline (Expert)
27 January 2021

1. Cheque payment for "ANY" purposes (including Gift), legally does not require the mentioned STAMP, in anyway.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

K RajasekharanOnline (Expert)
27 January 2021

A gift deed can be made in one stamp paper for more than one cheque.

To transfer an amount by cash or cheque a gift deed is normally not necessary. However to show that the transferred money is part of a gift it seems a document is good.

Income tax law provides some tax rebate for the receipt of money as gift from some selected close relatives. Such a document seems to be necessary to show that the amount the recipient got is part of a gift, which otherwise would be treated as money outside the normal income sources.



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