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Gift of equity shares

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(Querist)
19 January 2011 A gifts 5000 equity shares, of closely held public company to his son B.
Is there any tax implication in the hands of A or B? Will your answer be different if son B is a minor? Additional information:- Face value of a share- Rs.10 EPS- Rs.3.50
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
19 January 2011 No tax implication since the gift is to a relative.

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