A Gift Deed is a legal document that describes voluntary transfer of gift from donor (owner of property) to donee (receiver of gift) without any exchange of money. A gift given by any person to any of his relative (as described under Income Tax Act, 1961) is not taxable in the hands of the donee. However, this method should not be used to evade taxes.
Providing information regarding the property to be gifted along with other details.
Drafting the gift deed based on the information provided by client.
Review of the gift deed and sending the final draft to the client.
Registration of the gift deed with the registrar.