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Physical transfer of share from children to parent

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2012 If shares of listed company are transferred in physical form

Child + Parent (Joint Holding)

to

Parend (Single Holding)

(i) Whether it is compulsory to transfer funds equivalent to transfer value from child's bank account to parent's account?

(ii) What are the tax implications?
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CA Suresh Jain

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CA Suresh Jain (Expert)
28 August 2012 1. Transfer of fund is not required,
2. no tax implication
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CA Suresh Jain

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CA Suresh Jain (Expert)
28 August 2012 1. Transfer of fund is not required,
2. no tax implication
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