[1] The rules governing these elements were historically rigid but in recent years courts have become more lenient in their application by ignoring or circumventing the formal delivery requirement and elevating the importance of donative intent.
The man has not made a gift, and could legally demand the ring back at any time before the woman's birthday because an immediate transfer has not occurred.
The man has made a gift and would be unable to legally reclaim it because he has given her a present interest in the deed.
[3] If the gift is of a type that cannot be delivered in the conventional sense – a house, or a bank account – the delivery can be effected by a constructive delivery, wherein a tangible item allowing access to the gift – a deed or key to the house, a passbook for the bank account – is delivered instead.
A gift is assumed when property owner deeds real estate as joint tenants with rights of survivorship.
Regardless of contribution to purchase price, such a deed guarantees each tenant equal shares upon sale or partition of the property.
However, the said Act has been abolished and from FY 2004–05, a new provision was inserted in the Income Tax Act (1961) under section 56 (2) which provides that if the gift is received by an individual or Hindu undivided family from any relatives or blood relatives or at the time of marriage or as inheritance or in contemplation of death, it will not be taxable.