Gift of money through cheque to sister

Querist : Anonymous (Querist) 22 December 2010 This query is : Resolved
Dear Experts,
I want to gift my sister x amount as gift.
Pls let me know, whether, I have to execute a gift deed and pay stamp duty.
Also pls enlgihten about the registration part of it.

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Devajyoti Barman (Expert) 22 December 2010
For making gift of moveable there is no need of stamp duty nor reistration is compulsory.

Ajay Bansal (Expert) 22 December 2010
I agree with Devajyoti.

s.subramanian (Expert) 22 December 2010
No need to make any deed in writing for the gift of movables.

Khaleel Ahmed Mohammed (Expert) 22 December 2010
Yes you can gift money to your sister through cheque. There is no need to register deed of gift, or pay any stamp duty. Delivery of amount and acceptance of the amount it self constitute a valid gift.

Raj Kumar Makkad (Expert) 22 December 2010
I do agree with Khaleel.

Dineshwar Singh Kaushik (Expert) 22 December 2010
I do agree with Mr. Khaleel Ahmed.

Advocate. Arunagiri (Expert) 22 December 2010
I think the author is having in mind a immovable property. Author please clarify what you want to give, cash or cash equivalent or immovable property.

Querist : Anonymous (Querist) 23 December 2010
Dear Experts,
thanks for the reply.

I have to gift, cash only, that to, thru cheque.

Also, if we dont have to make any gift deed and pay stamp duty, then from income tax angle, wat kind of proofs are we supported to maintain for this transaction.

M V Gupta (Expert) 23 December 2010
You may send the cheque with a covering letter stating that u are sending the cheque(specify the amount of the cheque and the number and date of the cheque) by way of gift. This letter can be produced before the IT authorities as proof of the gift.

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