Please Help: Gift Deed
Posted Date : 19-May-2012 , 10:26:24 am | Posted By: Paras Barasara
Category :
Income Tax | Answers :
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Comments :
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Suppose one person give advances to other person (Blood Relation), now is it possible to treat same advance as gift after 2 or 3 year with fresh Gift Deed. |
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Answers:
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 Answer by: Rishabh Upadhyay |
| Its a matter of book entry.. you can either show the advances as paid back and receive the same amount as gift with fresh gift deed
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| Comments |
| Posted By : V.VIJAY KUMAR |
19-May-2012, 11:59:47 |
| Yes, you can very well treat this as a Gift. |
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