Sangita 09 September 2018

I received approx 230k inr from a friend 5 years ago

I received approx 230k INR from a FRIEND 5 years ago

Is it possible to make a gift deed NOW which will show that the money that I received was in the form of a "gift" ?

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4 Replies

Sangita 09 September 2018

Sorry the amount will be 320k INR (not 230k). That was a typo

SOLOMON.RAJ (advocate/director) 12 September 2018

Ms. Sangita,

Why do you want to make itagift deed. Are you hinting for tax payments.Please elaborate.

Adv. Solomon Raj,
Attorney at Law,
Bharat Gaurav samman awardee 14
AICC National Legal Chairman.
email:rajcarey@yahoo.com
phn:9866545086

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Sangita 13 September 2018

Originally posted by : SOLOMON.RAJ
	Ms. Sangita, Why do you want to make itagift deed. Are you hinting for tax payments.Please elaborate.Adv. Solomon Raj,Attorney at Law,Bharat Gaurav samman awardee 14AICC National Legal Chairman.email:rajcarey@yahoo.comphn:9866545086

I am trying to start up a business where I need to show that my networth is 320k. I dont know whether I'll be able to do that without receiving a certificate of gift or something like that.

Although I received the money, I am unable to show that I am the "owner of that money".

Let me know if my asumption is correct.

Sangita 13 September 2018

Originally posted by : SOLOMON.RAJ
	Ms. Sangita, Why do you want to make itagift deed. Are you hinting for tax payments.Please elaborate.Adv. Solomon Raj,Attorney at Law,Bharat Gaurav samman awardee 14AICC National Legal Chairman.email:rajcarey@yahoo.comphn:9866545086

I am trying to start up a business where I need to show that my networth is 500k(and I want to include that 320k in it). I dont know whether I'll be able to do that without receiving a certificate of gift or something like that. Although I received the money, I am unable to show that I am the "owner of that money". Let me know if my asumption is correct.