Gift Deed Format for Money & Movable Property — Section 56(2)(x) Template
DEED OF GIFT (MOVABLE PROPERTY / MONEY)
THIS DEED OF GIFT is made at {{execution_place}} on 31 July 2026 BETWEEN {{donor_name}}, residing at {{donor_address}}, holding PAN {{donor_pan}} (hereinafter referred to as the "Donor") of the ONE PART, AND {{donee_name}}, residing at {{donee_address}}, holding PAN {{donee_pan}} (hereinafter referred to as the "Donee") of the OTHER PART.
WHEREAS the Donee is {{relationship}}, and the Donor, out of natural love and affection for the Donee, is desirous of making a gift to the Donee of the property described below;
AND WHEREAS the Donor is the sole and absolute owner of the said property, which is self-acquired, and is competent to dispose of the same;
NOW THIS DEED WITNESSETH AS FOLLOWS:
1. Gift
The Donor hereby voluntarily, without any consideration in money or money's worth, and out of natural love and affection, transfers and gifts to the Donee absolutely and forever: {{gift_description}}, of the value of ₹{{gift_amount}} (the "Gifted Property"), within the meaning of Section 122 of the Transfer of Property Act, 1882.
2. Acceptance
The Donee hereby accepts the gift of the Gifted Property, such acceptance being made during the lifetime of the Donor and while the Donor is capable of giving, and evidenced by the Donee's execution of this Deed and receipt of the Gifted Property.
3. Delivery
The Gifted Property has been delivered to the Donee as particularised below:
| Particulars | Details |
|---|
| Mode of transfer / delivery | {{transfer_mode}} |
| Date of transfer / delivery | {{transfer_date}} |
| Transaction reference (UTR / cheque no.) | |
| Donor's bank account | |
| Donee's bank account | |
4. Absolute Ownership
The Donee shall henceforth hold and enjoy the Gifted Property absolutely, with full rights of ownership, and the Donor shall have no right, title, interest or claim therein. The gift is unconditional and irrevocable, and is not made in contemplation of death.
5. Tax Recital
The Donee is a "relative" of the Donor within the meaning of the Explanation to Section 56(2)(x) of the Income-tax Act, 1961, being {{relationship}}. The Gifted Property is accordingly not chargeable to tax as income of the Donee under Section 56(2)(x). This recital is made to place the relationship on record for income-tax purposes. The parties acknowledge that clubbing provisions of the Income-tax Act, 1961 (including Sections 64(1)(iv) and 64(1A), where the donee is a spouse or minor child) may apply to income arising from the Gifted Property, and have taken independent advice in this regard.
6. Stamp Duty
This Deed is executed on non-judicial stamp paper of the value required for a gift of movable property under the Stamp Act applicable in the State of execution; stamp duty on gift deeds varies from state to state. For a gift of movable property, registration under the Registration Act, 1908 is optional where the gift is effected by delivery.
IN WITNESS WHEREOF the Donor and the Donee have set their respective hands to this Deed on the day, month and year first above written.
_______________________________
{{donor_name}} (Donor)
_______________________________
{{donee_name}} (Donee — in acceptance of the gift)
Witnesses
1. Signature: _______________________________
Name: _______________________________
Address: _______________________________
2. Signature: _______________________________
Name: _______________________________
Address: _______________________________
