Gift of deed question

[hele.hamdon]

Asking for my friend to be ready ...
Can anyone take gift of deed from friend or must be a family member ?
If the answer (yes) give us an advice about papers please
Thanks

 

[hele.hamdon]

any help

 

[Jagjeet_anttal]

it is better if you take it from a family member, preferably father or mother,

 

[chandigarh]

Hi.....if i transfer around Rs. 2 lacs from my father's account to mine and expecting invitation in november. So, when is the suitable time to generate a gift deed.....now?or after receiving ITA at the time of document submission.

 

[psmangat5]

Hi.....if i transfer around Rs. 2 lacs from my father's account to mine and expecting invitation in november. So, when is the suitable time to generate a gift deed.....now?or after receiving ITA at the time of document submission.

I took 4 lakh from my mom just 10 days before applying never made Gift deed.. got my COPR

 

[Norli]

Asking for my friend to be ready ...
Can anyone take gift of deed from friend or must be a family member ?
If the answer (yes) give us an advice about papers, please
Thanks

A monetary deed of gift can come from anyone, the most important thing is that the money is yours and your free to utilize it the way you deem fit. Also, both the giver and the receiver will submit their bank statements to prove the money left his account and it is in your own account.

 

[Norli]

Hi.....if i transfer around Rs. 2 lacs from my father's account to mine and expecting invitation in november. So, when is the suitable time to generate a gift deed.....now?or after receiving ITA at the time of document submission.

I would advice you get all necessary document ready so that you will be able to submit your document once ITA is issued to you.

 

[psmangat5]

one more thing you should keep in mind, Gift above 50,000 R from anyone (except close relatives) is taxable in hands of recipient