Family, HUF, Gifts and Succession
A gift of ₹1,50,00,000 to a major child moves ₹12,00,000 of annual income out of the parent's 31.200% bracket into a nil band and saves ₹3,74,400 a year; the same gift to an HUF saves nothing, because s.64(2) clubs the income straight back.
- 8 pages
- 103
- Word and PDF
- 13 September 2026
The 4 formats inside
- 1Declaration of gift and acceptanceon plain paper, executed by the donor and the doneeOn its own₹149
- 2Declaration of the existence of a Hindu undivided familyon plain paper, executed by the kartaOn its own₹149
- 3Letter conveying the first corpus of a Hindu undivided familyon plain paper, from the donor to the kartaOn its own₹149
- 4Memorandum of family settlementoutline for drafting, to be settled by counsel before executionOn its own₹149
Read the opening
The first part of “Declaration of gift and acceptance”, as it downloads. Blanks are highlighted.
Declaration of Gift
I, [full name of the donor], son / daughter / wife of [Donor's father's, mother's or husband's name], aged [Donor's age (years)] years, resident of [Donor's full address], holding Permanent Account Number [Donor's PAN], do hereby solemnly declare as follows.
1. I am the absolute and exclusive owner of the property described in the Schedule below, which is my self-acquired property, free from all encumbrances, charges, liens and claims of any third person.
2. Out of natural love and affection which I bear towards [full name of the donee], who is my [state the exact relationship — son / daughter / wife / husband / mother / father / brother / sister / member of my Hindu undivided family], I have on this [Date of the gift] voluntarily and without any consideration whatsoever gifted, transferred and made over to the said [name of the donee] the property described in the Schedule below.
More in Income Tax & TDS
Tax advisory note, choice of business vehicle
Download ₹149Fill online ₹199Salary structure proposal to an employer
Download ₹149Fill online ₹199Board note, directors' remuneration and dividend for the year
Download ₹149Fill online ₹199Tax note to an employee on exercise of stock options
Download ₹149Fill online ₹199