Marriage Gift from a Private Ltd Cos

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1. The number of directors required to sign the marriage gift deed would depend on the provisions of the AOA of the Pvt Ltd Company.

2. Income tax department may raise queries regarding the genuineness of the transaction.The company may need to provide documentation and evidence to support the transaction, such as the marriage gift deed, proof of the daughter's marriage, and evidence of the company's financial position.

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1. At least 2 directors need to sign the gift deed

2. if they are gifting shares, proper documentation related to Companies ACT should comply.  

As per section 56(2)(x), any thing received on the occasion of marriage is exempt for the recipient irrespective from whom he or she is receiving it.

Signing of marriage gift would depend on the provision of company as gift deed only needs a valid gift deed so it depends what you are gifting to the daughter and if the deed is signed by majority board of directors I think it would be ok for both company law and income tax.

Please check if it would be considered as gift or as a transfer without consideration.

Further, please check if the company could give such gift. If she is not a shareholder it would not be covered under deemed dividend.

Also, please check if such asset is covered under section 50C or 50CA.

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1) All directors except uncle whose daughter would receive marriage gift

2) Pvt. Ltd. co. can give marriage gift to her but it may be subject to litigation. Scale of marriage ceremony, proof of marriage ceremony in the form of videography and photos, list of all donors, source of funds to bear the marriage expenses which Assessing officer may ask for.  

Show gift amount in her ITR

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