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Vishnu Anand P (Scientific Officer)     28 August 2014

Stamp value gift deed - movable property (chennaii)

Dear All,

I have received some gold ornaments and money from my parents as gift. Please let me know, is it valid to execute a gift deed on a 20 rupees stamp paper and use it as proof.

1. Is there any rule for selecting stamp paper value for making gift deed (movable property). Or it can be done on any stamp paper as its not a transaction of immovable property.

I am staying Tamil Nadu, please consider if state to state rules are different



Learning

 2 Replies

Manish (Proprietor)     29 August 2014

Pl refer to stamp act. If no specifically mention thn you can use Rs.100 stampaper and also declare the same in your IT returns.

S R SHETTY (MANAGER - LEGAL)     05 November 2014

You may execute gift deed on Rs. 100, but I advice declare only if necessary and is the gift is huge, otherwise you will be exposing yourself "Aa Bail Muze Maar"


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