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Attention: File GSTR 9/9C by 31 Dec — Avoid Penalties Now! Talk to our expert

Gift Deed Clauses

Gift Deed Format

FAQ's on Online Gift Deed Registration

If a gift deed involves the transfer of property to a minor, it is necessary for the minor's legal guardian to accept the gift on their behalf. However, once the minor reaches the legal age, they have the option to either accept or reject the gift. The decision to accept or reject the gift ultimately lies with the minor, and they are not bound to keep the gifted property if they do not wish to do so. .
Once a gift deed has been transferred to the donee, they become the rightful owner of the property and are therefore responsible for all associated fees and charges. This includes payments for utilities like electricity, maintenance fees, municipal taxes, and any other relevant charges that may apply. It is important for the donee to be aware of these responsibilities before accepting the gift deed, as they will be solely responsible for any outstanding dues or charges that may arise.
Any person with a sound mind and competent enough to enter into an agreement can be a donor.
A gift deed has to be declared while filing the Income Tax Returns (ITR). The Gift Tax Act of 1958 was abolished in 1998, only to be reintroduced in 2004.
No. A minor is considered incapable of entering into an agreement.
Yes, it can be sold if there is no condition attached at the time of registration.
Both the donor and donee can challenge a registered gift deed. The legal heirs can take legal actions in case of the demise of both parties. It is challenged in court based on the legality issues.
A lawyer can help in drafting a gift deed by ensuring that it includes all the necessary details, such as the description of the gift, the donor and recipient's details, and any terms and conditions associated with the gift.
Yes, a gift deed is a legal document that formalises the transfer of ownership of a gift from the donor to the recipient. It is a valid and enforceable document that can be used as evidence in case of any disputes.
According to the law, you can only officially hand over property ownership with a written document, even if the property is worth little. So, it's vital to get and complete this paperwork.

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