Can the entire amount of 12300 be shown as a Gift?

[girishjs111]

Hi,

Is it okay if the amount of 12300 is shown as a gift received from my father? I put in all my savings for my further studies so I will have to borrow money from him and show it as a gift.

Will it cause any problem if my previous monthly balances were low and then all of a sudden there is 12300 in the account that came in a gift?

PS: I will be getting a gift deed drafted.

 

[girishjs111]

Bumping up

Guys please help!!!

 

[Marty_]

yes. You will need a bank letter and a gift deed

 

[girishjs111]

yes. You will need a bank letter and a gift deed

I understand what a gift deed is. I will definitely get that made. What details would the bank letter include ??

 

[Marty_]

Your Bank letter should contain account opening date, account type held(savings/fixed deposit), current savings balance, average six months balance(or 6 months bank statement stamped by bank)

 

[girishjs111]

How much does it cost to make a gift deed in India?
There is a notary in my area who told me he would take INR 5000 to make a notarized gift deed

Is it supposed to cost this much?

Guys from Bombay, please suggest where did u get it made from