A wants to gift money by cheque to B whether is it possible?
If yes, whether gift deed is required to be executed? Whether it has to be registered or notarised ? or mere signing by both the parties is sufficient?
Once the amount is transferred, B invested the money in purchase of immovable property. Such property will be sold after few years. Whether capital gains on such sale, has to be paid by B??
Amount involved in the transaction is Rs. 25 Lakhs.
Please throw light on this as soon as possible.