Transfer of shares - father to son - Is gift deed required?
This query is : Resolved
30 June 2010
a Father has transferred shares in his name to his son. Is Gift deed required as per Income tax Act, 1961?
30 June 2010
Yes gift deed must be prepared as it is a very valuable document for validity for gift.
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?
30 June 2010
The gain will be exempt u/s 10(38) as it is long term capital gains.
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