Tuesday, October 24, 2017

Can a Gift Deed be challenged in India?

Can a Gift Deed be challenged in India?
Section 122 of the Transfer of Property Act defines a gift deed as a legal document that describes the voluntary transfer of gift from a donor (owner of the property) to donee (receiver of gift) without any exchange of money. The donor must be solvent and should not use this tool for tax evasion and illegal gains.
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