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Gift deed

(Querist) 15 July 2018 This query is : Resolved 
What is the procedure for making a gift deed ?
kavksatyanarayana (Expert) 15 July 2018
There must be a donor or donee. Get the gift deed drafted by a Senior document writer or an advocate. You have to mention the property of the Gift. the stamp duty and registrations charges are payable according to Gift. the stamp duties are vary from one state to state.
Dr J C Vashista (Expert) 16 July 2018
Seek professional services of a local lawyer if you want to execute "Gift Deed" otherwise, join some coaching institute to gain knowledge qua procedure.
R.Ramachandran (Expert) 16 July 2018
As any Gift of the property/money whose value is more than Rs. 50000/- may attract Income Tax in the hands of the recipient, please indicate to whom you propose to give the Gift and the relationship of the person with you, so that it can be indicated to whether any exemption is available under income tax act.


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