Hi,Asking for a friend. He is in the process of document preparation post ITA, applying from India
He needs to prepare a gift deed since he got a good chunk of amount from his parents. Below is the query
He received X amt from his father's account and Y and Z amount from his mother's account in 2 different transactions across 2 days.
Option 1. Should he prepare 3 separate gift deed docs for the 3 transactions?
Option 2: Should he prepare 2 gift deed docs(one for father and one for mother with the details of the transactions mentioned in the document)
Since the amount was transferred through online transfer, what proof should he show to the notary to get it signed?
Appreciate your help on this!!!
I got all of my pof as a gift from my mother's account. I submitted the NEFT receipt as a proof to the notary, and the gift deed was signed by me and my mother.
Now, a gift deed is an agreement between two persons. So, according to me, he needs two gift deeds, one between himself and his father and the second between himself and his mother.
Again, for the two transactions from his mother's account, it can be mentioned in the gift deed that the money was transferred from mother's account to his twice, with the transaction numbers. That would suffice. Because here primarily we want to convey the source of the money.
Hope this helps !