07 July 2013
My FATHER & HIS BROTHER TRANSFER SHARE TO ME WITHOUT CONSIDERATION SHARE HOLD BY MY FATHER AND HIS BROTHER IN PHYSICAL FORM FIRST THEY TRANSFER SHARE TO MY NAME THEN I HAD SUBMIT SHARE CERTIFICATE TO REGISTRAR OF COMPANY TO TRANSFER IN MY DEMAT ACCOUNT
I HAD SOLD FEW SHARE OUT OF THOSE SHARE AFTER DEMAT
WHAT IS THE TAX LIABLITY IN MY HAND
SHARE HOLD BY MY FATHER & HIS BROTHER MORE THEN 15 YEARS IN PHYSICAL FORM
08 July 2013
If it is listed share, and you have held it for more than 365 days in your name and have paid STT while selling it, then there is no tax liability on you.
09 July 2013
Dear Sir thanks for your reply but little bit confuse period of holding start from which date from the date of purchase of my father or from the date of transfer to my name
because i had mention that physical share certificate hold by father & his brother since 15 years and they transfer to me in the month of May'2012 so in that case it is taxable or excempt
CAclubindia
