Mr Raj(father) has equity share of Rs 50 Lacs and on death of Raj
His shares are transferred to Diya(daughter) and in F.Y 2018-19 she has sold such shares
The amt received on above shares is divided between diya and diya's sister Seema of Rs 25 Lacs each by making gift deed
So my query was whether such amt would be taxable or not in the hands of Seema and where would it be reflected in ITR-2
I think, not taxable, or exempt u/s. 56(2) of IT act.
It may be declared under schedule 'Exempted Income.
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