Gift deed

Anonymous

Replied 5 years ago

Thank you Sir, I just wanted to know one more thing, this deed was made without any bank translation. He simply made this gift deed and added the amount in his name in balance sheet of the firm. Is this the right way by the rule of Income tax? Because I heard any type of transfer of money more than 50000 can't be done without cheque.

Anonymous

Replied 5 years ago

Thank you Sir, I just wanted to know one more thing, this deed was made without any bank translation. He simply made this gift deed and added the amount in his name in balance sheet of the firm. Is this the right way by the rule of Income tax? Because I heard any type of transfer of money more than 50000 can't be done without cheque.

Anonymous

Replied 5 years ago

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Q. Gift deed
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Anonymous

posted 2 days ago

Civil
Sir, my brother and father forcefully gifted my capital amount Rs. 10 lakhs in the shape of gift deed in April 2016 to them. I didn't not want to give that to them. Now I filed a case against them. Can I cancel the gift deed to get my money back. Secondly my brother has written in gift deed that I am giving money to him for his business. But he is not doing any business.
My english is not so good, Please excuse me for this.
3 of 3 Responses found

A. Dear Sir,
Forcible execution of gift deed is nothing but criminal offences. Get file a criminal case and file a police complaint or private complaint.


KISHAN

Experience: 32 Year(s)

Responded 1 day ago

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A. Yes... you can go for cancellation of the gift deed but the same depends upon the prayers of the suit already filed by you. If you want you can also try and initiate criminal proceeding against them.
Regards,
Adv. Raghavendra Mehrotra


Raghavendra Mehrotra

Experience: 4 Year(s)

Responded 1 day ago

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A. Dear Sir,
You have already filed a case against them as per your post. If the matter is already before the Court, then you will have to wait for the decision of the case. You cannot cancel the subject matter of the case after the case has been filed.


Vedant Lakhotia

Experience: 2 Year(s)

Responded 2 days ago

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Anonymous

Replied 2 days ago

Thank you Sir, I just wanted to know one more thing, this deed was made without any bank translation. He simply made this gift deed and added the amount in his name in balance sheet of the firm. Is this the right way by the rule of Income tax? Because I heard any type of transfer of money more than 50000 can't be done without cheque.

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Vedant Lakhotia

Experience: 2 Year(s)

Replied 17 minutes ago

Dear Sir,
Whatever you have heard is not right. You can do any type of transaction via cash but in order to get the same accepted by the income tax authorities under the head of business and profession it has to be done through bank. Otheriwse the income tax officer will disallow it as an expenditure.

Sir,
He showed my money in the form of addition in his name in the balance sheet but he doesn't have any bank transaction. His CA didn't show the balance sheet of 2016, he only showed 2017 balance sheet in which he showed addition on money in his name. But there is nothing to show from where he got this money. He even didn't appear in the court. His advocate replied behalf of him that the plaintiff wants to disturb him therefore don't call me in the court. He has got already 3-4 dates in this case. Please help me, I will be very grateful to you