Transfer Of Shares
This query is : Resolved
20 May 2008
My friend holds few shares of a company and he wants it to be transferred to his brother.
What will be his tax liability assuming that he has both short term and long term shares.
Please help.
What will be his tax liability assuming that he has both short term and long term shares.
Please help.
20 May 2008
You have not mentioned the type of the company, type of shares, mode of transfer etc.
20 May 2008
If the shares are transferred otherwise than through the stock exchange, then capital gain tax will be the normal slab based tax rate for short term shares and 10%(without indexation benefit) or 20%(with indexation benefit), at the option of the assessee, for long term shares.
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