Vishal (Sales) 03 May 2016
Dear Experts
My mother Sold her house and got a new house for herself and wants to Give me some money from the sale proceed of the previous house. I would appreciate if someone can guide us the documents needed for the same....While preparing a gift deed in front of the lawyer, is it mandatory to have the original registration papers of New House?
Rgds
Vinod
G.L.N. Prasad (Retired employee.) 04 May 2016
If it is cash, get the same from her account in which sale proceeds were lodged, in the form of a crossed account payee demand draft with a covering letter. Contact a Chartered Accountant and pay necessary taxes, if required to legalize the transaction.
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