Are gift deeds necessary between family members?

Taxation
1

  1. I want to gift shares to my direct family member. I chose “Gift to family member” on CDSL. Is there still a need for gift deed?

  2. I want to transfer cash to my family member via bank transfer. Is gift deed necessary here?

2

get in touch with a legal person.

I’m not a CA/legal expert.

3

No. Both bank records and CDSL transfer records are not changeable. Are proof enough of it actually taking place.

I have not a read a credible need for executing a gift deed for family transfers, especially with parents.

Worst case take a receipt and sign a letter if value is large, but gift deed feels completely unecessary.