My wife s gonna have a gift deed from her father...her father is a retired person and have agriculture land and a store for his running expenses..but he has no taxable income...he has only one kid who is my wife...gift deed and affidavit is ok and managable but wat m i suppose to do for my father in law`s welth statement...this statement is usually prepared by a Chartered accountant...any expert can help in this regard plz???what can i show from my father in law that he could manage after gifting a hefty amount of money...
@kaushalyap and others - So, Gift deed typed on a stamp paper is enough instead of 2 separate documents (deed and affidavit)? Also, can gift deed be post-dated? I got the cheque already but I need to get the deed now.
I'm in the same boat and I will be getting the deed written in a day or two. I would appreciate it if someone can clear this up soon.
