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Balaji   10 September 2016

Mother to daughter gift deed

Hi All,


Not sure is this the right place to ask this question. I need to make a mother to daughter gift deed and the funds are transferred through NEFT. So what is the procedure to declare the same to income tax department and relevant documents for the same, so that I can declare in next financial year.





 6 Replies

Kumar Doab (FIN)     10 September 2016

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.


Balaji   10 September 2016

Ok thanks Kumar,


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

Kumar Doab (FIN)     10 September 2016

Your counsel can draft as per your need.

M.R.K.PRASAD-Advocate (SELF)     10 September 2016

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.

Balaji   14 September 2016

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)

Ms.Usha Kapoor (CEO)     15 September 2016

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.

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