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Transfer of shares

This query is : Resolved 
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(Querist)
30 August 2011 Dear SIr / Madam,

one of my friend wants to transfer his shares to his wifes account.So please advice whether he or his wife has to pay any tax on it?
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
31 August 2011 Hi,

At the time of transfer- NO but in case his wife sell those shares and make any gains, this gain will be assumed as an income of her Husband and he has to pay income tax on that, if it is short term gain.I am assuming here that husband is transferring shares for no cost.
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