If i transfer 50 L to 1 Cr to my father as GIFT do i need to create any documentation [Gift Deed so no tax liability comes on my father on receiving this money ] for this or just online transfer.
Does it need to ne reported any where
If i transfer 50 L to 1 Cr to my father as GIFT do i need to create any documentation [Gift Deed so no tax liability comes on my father on receiving this money ] for this or just online transfer.
Does it need to ne reported any where