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Gift Deed

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What does Gift Deed cost?

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Overview

A Gift Deed is a legal document through which a person (the donor) voluntarily transfers ownership of a movable or immovable property to another person (the donee) without any exchange of money or consideration. Under Section 122 of the Transfer of Property Act, 1882, a gift is defined as the voluntary transfer of existing property, made without consideration, which is accepted by or on behalf of the donee during the donor's lifetime.

A Gift Deed is commonly used to transfer property among family members, such as parents gifting to children, transfers between spouses or siblings, or charitable gifts. It is preferred over a Will because the transfer takes effect immediately and during the donor's lifetime, rather than after death.

For immovable property, registration of the Gift Deed is mandatory under Section 123 of the Transfer of Property Act, 1882, and Section 17 of the Registration Act, 1908. An unregistered gift of immovable property is not legally valid and cannot be enforced. The deed must be signed by the donor and attested by at least two witnesses, and the applicable stamp duty must be paid.

Eligibility

Donor (the giver):
  • Must be the lawful owner of the property at the time of making the gift.
  • Must be of sound mind and competent to contract (i.e., a major aged 18 years or above). A minor cannot be a donor.
  • Must transfer the property voluntarily, out of free will, and without any coercion, fraud, or undue influence.
  • Must transfer the property without any consideration (no money or value in return).
Donee (the receiver):
  • Can be any person, including a minor. If the donee is a minor, the gift must be accepted on their behalf by a legal guardian.
  • Must accept the gift during the lifetime of the donor. If the donee dies before acceptance, the gift becomes void.
The property being gifted must be in existence at the time of the gift; future property cannot be gifted.

Documents Required

Only PAN Card and Aadhaar Card are mandatory; the rest are optional.
  • PAN Card
  • Aadhaar Card
  • Passport-size Photograph
  • Address Proof (Utility / Electricity Bill)
  • Bank Statement

Key Points

  • A gift must be made voluntarily and without consideration — if any money or value is exchanged, it is not a gift.
  • For immovable property, the Gift Deed must be registered to be legally valid; an unregistered deed has no legal effect.
  • The gift must be accepted by the donee during the donor's lifetime, otherwise it is void.
  • The deed must be signed by the donor and attested by at least two witnesses.
  • Once validly executed, accepted, and registered, a gift is generally irrevocable and cannot be cancelled at the mere will of the donor.
  • Stamp duty and registration charges are payable and vary from state to state; many states offer concessional rates for gifts between close blood relatives.
  • Gifts received from a relative (as defined under Section 56(2)(x) of the Income Tax Act) are exempt from income tax, regardless of value.

Rules

  • Transfer of Property Act, 1882: Section 122 defines a gift, and Section 123 requires that a gift of immovable property be made through a registered instrument signed by the donor and attested by two witnesses.
  • Registration Act, 1908: Section 17 makes registration of a gift deed for immovable property compulsory.
  • Stamp duty: Payable on the gift deed as per the Stamp Act of the relevant state, generally calculated on the market value or circle rate of the property, whichever is higher. Rates differ by state and by the relationship between donor and donee.
  • Revocation (Section 126): A gift can be revoked only if the donor and donee agreed at the time of the gift that it would be revoked on a specified event not dependent on the donor's will alone, or on grounds that would allow rescission of a contract (such as fraud, coercion, or undue influence). A gift cannot be revoked at the mere will of the donor.
  • Income Tax Act: Under Section 56(2)(x), gifts from defined relatives are tax-exempt, while gifts from non-relatives exceeding ₹50,000 in aggregate in a financial year are taxable in the hands of the donee as income from other sources.

How to Apply

Getting your Gift Deed prepared and registered through TaxoSure is simple and fully assisted. Just follow these steps:
  1. Visit TaxoSure. Go to taxosure.com and open this Gift Deed service page.
  2. Login or Register. Create your free TaxoSure account, or log in if you already have one.
  3. Upload your documents. Your KYC documents (PAN & Aadhaar) are auto-filled from your account; upload the remaining documents for the Gift Deed as per the checklist.
  4. Submit your application. Review the details and submit your application in one click.
  5. Talk to our consultant. Our consultant connects with you on WhatsApp / Call to confirm the property and donor-donee details, share the pricing, and begin the work.
  6. Get your registered Gift Deed. Our experts draft the deed, guide you through stamp duty, execution, and registration at the Sub-Registrar's office, and deliver your completed, registered Gift Deed to you.

FAQs

What is a Gift Deed?+
A Gift Deed is a legal document under Section 122 of the Transfer of Property Act, 1882, by which a donor voluntarily transfers ownership of movable or immovable property to a donee without any consideration (money or value in return), and the donee accepts it during the donor's lifetime.
Is registration of a Gift Deed mandatory?+
Yes. For immovable property, registration of the Gift Deed is mandatory under Section 123 of the Transfer of Property Act, 1882, and Section 17 of the Registration Act, 1908. An unregistered gift of immovable property is not legally valid or enforceable.
Can a Gift Deed be revoked or cancelled?+
Once validly executed, accepted, and registered, a gift is generally irrevocable. Under Section 126 of the Transfer of Property Act, it can be revoked only if the donor and donee had agreed at the time of the gift to revoke it on a specified event not depending on the donor's will, or on grounds like fraud, coercion, or undue influence. It cannot be revoked at the mere will of the donor.
Is stamp duty payable on a Gift Deed?+
Yes. Stamp duty and registration charges are payable on a Gift Deed and vary from state to state. They are generally calculated on the market value or circle rate of the property, whichever is higher. Many states offer concessional rates for gifts made between close blood relatives such as parents, children, spouses, or siblings.
Are gifts received through a Gift Deed taxable?+
Under Section 56(2)(x) of the Income Tax Act, gifts received from a defined relative (such as spouse, parents, children, siblings, and certain others) are exempt from income tax regardless of value. Gifts from non-relatives exceeding ₹50,000 in aggregate during a financial year are taxable in the hands of the donee as income from other sources.
Can a minor be a donor or a donee in a Gift Deed?+
A minor cannot be a donor, as a minor is not competent to enter into a contract. However, a minor can be a donee — the gift made to a minor must be accepted on their behalf by a legal guardian.