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Money Transfer to Parent as GIFT - USA to INDIA - Question about GIFT DEED

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  • Money Transfer to Parent as GIFT - USA to INDIA - Question about GIFT DEED

    when we transfer money to parent from usa to india using money transfer services in online should we also keep Gift Deed on paper and ask our parent to sign? Money Transfer services deduct money from our USA bank account and deposit it into parent indian bank account, so we have proof of transaction. do we still need to prepare gift deed for this? i am working in usa on Visa.
    i transferred several times (Each time 2L per transfer) up to 20L in a year.
    Last edited by vikky789; 12-15-2016, 12:11 PM.
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