Gift deed

santosh Pawar (Querist) 02 February 2012 This query is : Resolved
Sir,

My unity has helped me in purchasing a flat.
I have received some amount from unity( father's sister) through cheque. I want to make a gift deed of the amount received to avoid any future conflict/ complications.
Sir my question is can I make a gift deed of amount received from my unity and is it possible to register the gift deed and in case of registration what will be the stamp duty or other expenses for the registration.
Please guide me.

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M.Sheik Mohammed Ali (Expert) 02 February 2012
if you can gift deed, but as per TP act you must transfer in which is you gift. you must register gift deed.

B.B.R.Goud. (Expert) 02 February 2012
yes. u can do that. for that u need to consult an advocate of your area for better help and solution.

ajay sethi (Expert) 02 February 2012
what you can do is make gift by cheque . execute an affidavit that gift of X amount is made to Y .

if you so d esire make a gift deed . have it regsitered .

Deepak Nair (Expert) 02 February 2012
You can register a gift deed to that effect. As per my knowledge, no stamp duty is prescribed for gift in cash or cheque.

Sankaranarayanan (Expert) 02 February 2012
I agreed with mr sethi and nair

Chanchal Nag Chowdhury (Expert) 02 February 2012
If your aunty is not a party to the Purchase Deed & U have simply taken financial assistance without any strings attached, Simply return the amount by cheque--A/C. Payee only. Nothing more is required.

Raj Kumar Makkad (Expert) 02 February 2012
There is no need to get registered the gift deed of cash rather a simple affidavit with cheque shall suffice.

Devajyoti Barman (Expert) 02 February 2012
Registration is required for compulsory in immovable property only.
For cash transfer gift deed or its registration is only optional.

Nadeem Qureshi (Expert) 02 February 2012
Dear Mr. Pawar
I also agree with the experts

Shailesh Kr. Shah (Expert) 03 February 2012
There is no need and also there is no provision in law for registration of such transaction. Only affidavit by your aunty would be suffice.

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