sir,My aunty(father's brother spouse) want to transfer RS 10,00,000 lakh shares in my name . and I want to sell those share....
The share are listed in NSC..
what is the tax implication in both case..
can it be possible
2 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 02 June 2017
There is no tax arises when u received gift as gift from relative is exempt.
If you sell that shares then capital gain arises.
If share are sold after 1 year of holding (aunt + your holding) & through stock exchange by paying STT on it then it is completely exempt.
In case it is sold within 1 year of holding then it is taxable @ 15%
If you sell that shares then capital gain arises.
If share are sold after 1 year of holding (aunt + your holding) & through stock exchange by paying STT on it then it is completely exempt.
In case it is sold within 1 year of holding then it is taxable @ 15%
saket gupta
(student)
(165 Points)
Replied 02 June 2017
thanks rashmi ji...
I read your reply in very post.. keep replying...
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