Mother to daughter gift deed

It is felt that gift recieved in cash or kind from relatives is exempted from tax.

The donor may shwo as drawn from capitol and recipient may add to capitol.

Rest your ITax counsel can guide you further.

Ok thanks Kumar,

Can I get the gift deed format pdf/doc for the same.

Your counsel can draft as per your need.

For Immovable proeprty gift deed should be registered with apropriate departmen.. AS your gift is money it is not necessary to register but you should make gift deed on stamp paper or duly franking with notary.. And donor nd donee signatures are mandtory.. beause if gift is  not accepted by donee it is invlid..

And no income tax on the gift.. but should b shown in books of acccounts.

OK Thanks Prasad and Kumar,

So I will take the gift deed on Rs. 50 stamp paper and get the notary done. As well as signatures of Donee and donor.

So while taking the stamp paper. Do I have to mention the purpose as Gift deed or what should I mention and on whose name do I need to take the paper Mother (Donor) and daughter (Receiving the gift)

EXcept registered Gift Deed mentioning the fact of donor out of love and affection giving the giftand the donee accepting  the gift in the /Deed of Gift between these two blood realtions Mother and daughter nothing else is required to claim complete exemption from gift tax both for the donor and the donee.