Taxation of shares gifted

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Soni Jeswani (Querist)
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22 October 2014 IF A MOTHER GIFTED SHARES TO HER SON, THEN WHAT IS THE TAXATION OF THAT??

IS IT TAXABLE OR EXEMPT FROM TAX??

Nikhil Kaushik (Expert)
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22 October 2014 there is no taxation. covered under exclusion provided under section 56(2)(vii)

CS,CA F,Numrologi TusharSampat (Expert)
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16 December 2014 exempted as both are covered in definition of relative u/s 56(2)

CS,CA F,Numrologi TusharSampat (Expert)
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16 December 2014 exempted as both are covered in definition of relative u/s 56(2)

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