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

AMIT SOGANI (Querist) 26 January 2021 This query is : Resolved
PLZ SUGGEST WHETHER A SINGLE STAMP CAN BE USE FOR DIFFERENT CHEQUES RECD FOR GIFT

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Generally, a stamp isn't required for gifts made via cash or cheque, especially for movable assets. While a formal gift deed isn't always necessary for cheque payments, it can be useful for documenting gifts, particularly for income tax purposes when receiving money from close relatives. You can use a single stamp paper for multiple cheques if you choose to create a gift deed, and a simple signed receipt is sufficient for acknowledging gift cheques without needing a revenue stamp.

kavksatyanarayana (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 Agarwal (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 Rajasekharan (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.

T. Kalaiselvan, Advocate (Expert) 04 June 2021
There is no necessity to acknowledge the gift received by cheques by a stamped receipt.
However if you still insist on an acknowledgment to be given to the donor, you may give a receipt with your signature alone, there is no necessity for affixing revenue stamp for the receipt of the gift cheques.

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