CA Day celebration 2024 Easy Office
LCI Learning

Transfer of shares - father to son - Is gift deed required?

This query is : Resolved 
Profile Image

Profile Image

(Querist)
30 June 2010 a Father has transferred shares in his name to his son. Is Gift deed required as per Income tax Act, 1961?
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
30 June 2010 Yes gift deed must be prepared as it is a very valuable document for validity for gift.
Profile Image

Yadagiri

Profile Image

Yadagiri (Querist)
30 June 2010 I have received gift of shares from my father two times one in 1990 and the other in 2005. If I sell them through recognised stock exchange after payment of STT? Is it taxable?
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
30 June 2010 The gain will be exempt u/s 10(38) as it is long term capital gains.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links