1 Answer
Dear client,
It is not compulsory to register a gift deed when a father gives jewelry or a check to his son because there is a movable properties and not immovable properties like land or house and as per section 122 of Transfer of Property Act 1882 a gift means giving property voluntary without taking anything in return and in section one to integrate the app clearly state that registration is compulsory not in case of immutable property and in the case of movable property such as jewelry money or check the gift becomes valid when the property is delivered or transferred to the person.
So if you give jewelry directly to your son or transfer money through a check in his name the gift is legally valid even if without registration but however it is always safer to make a simple written gift deed or a declaration and keep a proof like bank records check details or a written acknowledgement from your son and this can help to avoid any dispute in further and also under Income Tax Act gifts given to son are tax free because our son is considered a relative and therefore neither the father nor the son has to pay tax on such gifts.
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