In this article we are providing Format of Gift Deed for Gift of Money which will help you to understand the Gift Deed in respect of Gift of Money
GIFT DEED
THIS DEED OF GIFT made and executed at__________ this________ day of Two Thousand and________ by A B C, of___________,
Indian Inhabitant, residing at __________________________________________, hereinafter called “THE DONOR” (which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include his heirs, executors and administrators) of the ONE PART; AND P Q R, also of , Indian Inhabitant, residing at
, hereinafter called “THE DONEE” (which expression shall unless it be repugnant to the context or meaning thereof, be deemed to mean and include his heirs, executors, administrators and Assigns) of the OTHER PART.
WHEREAS
(a) The DONEE is the brother of the DONOR.
(b) The DONOR is absolutely seized and possessed of a large sum of money and which is his self acquired and/or owned property.
(c) In consideration of natural love and affection which the DONOR bears towards the DONEE, the DONOR out of his own free will and accord was desirous of making a gift of Rs. /- (Rupees _ only) and which is duly gifted by DONOR to the DONEE in manner appearing hereinafter;
(d) The DONEE has accepted the said gift by executing these presents in testimony hereof; and
(e) The fact of the said gift is recorded herein.
NOW THIS INDENTURE WITNESSETH THAT
for effectuating the aforesaid desire and in consideration of natural love and affection which the DONOR bears towards his brother the DONEE, the DONOR doth hereby grants, transfers, conveys and assigns by way of a gift a sum of Rs. /- (Rupees __ only) as more particularly described in the Schedule hereunder written unto the DONEE TO HOLD the same unto and
to the exclusive ownership and use of the DONEE forever and absolutely AND the DONOR doth hereby represents, warrants and covenants with the DONEE THAT he the DONOR has good right, full power and absolute authority to pay and gift the said amount unto and to the use of the DONEE in the manner aforesaid AND IT IS DECLARED AND CONFIRMED THAT the DONEE has become the absolute owner of the said amount of Rs. /- (Rupees
only) and the DONOR has ceased to have
any beneficial right, title or interest in the same.
IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted the said gift, have put their respective hands the day and year hereinabove written.
SCHEDULE ABOVE REFERRED TO:
(amounts paid by the Donor to the Donee by way of GIFT)
SR.
NO. DATE CHEQUE NO. DRAWN ON AMOUNT (RS.)
Total
IN WITNESS WHEREOF the DONOR having gifted and the DONEE having accepted the said gift, have put their respective hands the day and year hereinabove written.
SIGNED AND DELIVERED by )
the withinnamed A B C, )
the DONOR abovenamed, )
in the presence of ……… )
1.
2.
SIGNED AND DELIVERED by )
the withinnamed X Y Z )
the DONEE abovenamed, )
in the presence of ……….. )
1.
2.
Format of Gift Deed for Gift of Money
Declaration of Gift of Money
I, ABC, of, Indian Inhabitant, having an address at _ do hereby solemnly affirm, state and declare as
under:-
I have my own funds which are my self-acquired property and/ or otherwise exclusively belong to me. A part of the same is lying in my bank account No. _ with branch.
Out of the said funds, I record having gifted a sum of Rs. /-(Rupees only) to my son PQR as under:-
SR.
NO. DATE CHEQUE NO. DRAWN ON AMOUNT
Total
I record having gifted the above sum to my son PQR out of natural love and affection that I bear for him.
Since the date of the said gift, I have no direct or indirect interest in the said sum and the same is now the absolute property of my son PQR.
That this declaration is made by me of my own free will and accord and in a sound state of mind in order to make a record of the said gift absolutely clear.
I am assessed to Income Tax by an Assessing Officer
and my Permanent Account Number (PAN) with the Income Tax Department is .
Solemnly declared at )
On this
day of 20 )
Before me;