Poonawalla fincorp
Poonawalla fincorp

Transfer of Equity shares, Bonds/NCDs from HUF demat account to Karta's demat account?

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(Querist)
08 June 2021 Is it legally allowed to Transfer of Equity shares, Bonds/NCDs from HUF demat account to Karta's demat account without payment ?

If yes, what is the tax implication for both the HUF and the KARTA
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
24 September 2021 No. Tax liability over Karta for receipt of consideration without payment.
So, better to buy them, & use the consideration for family welfare.

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