Can money be transferred through gift deed?
I have given a businessman a loan as a investment for which he has been giving me monthly interest for many years now and I am paying income tax on it every year. Can I transfer this investment(loan) in my daughter's name using a gift deed, so that from now on she receives the monthly interest on it and she will pay the income tax on that interest every year?What other legal way is there for me to transfer the investment(loan) to my daughter's name besides a gift deed?
Gift Deed is the best option and most secured option for this and you can make her the Beneficiary of the Interest (by way of gift deed)which you keep on receiving on regular basis on the Investment made by you by executing a tripartite Contract with that Businessman to avoid payment of Registration and Stamp Duty.
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