Answered on May 14,2021
1. No tax for executing gift deed.
2. Borrow and repay loan only through banking channel; not by cash. Then no need to worry about income tax department.
Please check this video to know how Gift Tax is applicable in practical life situations.
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SEHEER A KADER OTTAYIL
Best Practices while applying for Government services online
1. Check whether you are eligible to apply for this service.
2. Check the documents required for application before applying.
3. Keep the documents in one folder for ease of access.
4. In case of any doubts, check whether the queries are already answered. You can check the FAQ section of the department website or use platforms like Tesz for this purpose.
5. Once you have applied, note down the application number to track the status.
6. Check the time required for the completion of the service. If the service is not completed within the due time, track the status online or reach out to the department.