Since most of the treads related to gift deed mention notarizing the document, I asked a couple of lawyers if I could get mine notarized as well. When I showed them the document format, they suggested me to change the word 'gifted' as you can see in the phrase below to 'donated'
( I, Your Father Name, S/o Your Grandfather Name, R/o ADDRESS, do hereby on dated 00/10/2020 make a gift-deed for a gift made on date of 00/10/2020, Rs. 000000/-)
I used the Gift deed format from the link below;
https://www.canadavisa.com/canada-immigration-discussion-board/threads/proof-of-funds-format-of-gift-deed-affidavit-and-loe.487054/
However, there are other threads where few applicants mentioned that they got the gift-deed signed only by witnesses but didn't notarize it. I don't know if it worked for their application or not.
( I, Your Father Name, S/o Your Grandfather Name, R/o ADDRESS, do hereby on dated 00/10/2020 make a gift-deed for a gift made on date of 00/10/2020, Rs. 000000/-)
I used the Gift deed format from the link below;
https://www.canadavisa.com/canada-immigration-discussion-board/threads/proof-of-funds-format-of-gift-deed-affidavit-and-loe.487054/
However, there are other threads where few applicants mentioned that they got the gift-deed signed only by witnesses but didn't notarize it. I don't know if it worked for their application or not.