Gift deed of money describes the voluntary transfer of movable property i.e. money from the donor (owner) to donee (receiver of gift) without any consideration.
This deed specifies the amount of money to be gifted and conditions if any applicable on gift. So, it helps in determining whether the gift will be taxed or not. Also, if the
condition is not fulfilled, your gift can be revoked.
A gift of movable property i.e. a certain sum of money may or may not be registered. But delivery of the property and acceptance of it are essential to consider it legally valid deed.
Use this agreement if
You want to gift a certain sum of money to anyone.
Someone is gifting you a certain sum of money.