Can one get the benefit of zero taxation on LTCG, on any sale after transferring the shares (gift) to one's spouse?
Ritu Jain
(CA)
(39 Points)
Replied 08 December 2012
As per Section 10(38) only the transaction which is chargeable to securities transaction tax is exempt from taxability, when u r transferring the shares to ur wife, there is no involvement of stt and hence there will not be any exemption.
SAYED MUJEEB
(ACCOUNTANT)
(101 Points)
Replied 09 December 2012
| Originally posted by : KJS | ||
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Can one get the benefit of zero taxation on LTCG, on any sale after transferring the shares (gift) to one's spouse? |
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if property transfered to spouse without considration then it is chargeable to tax in the hand of spouse who transfered it without considration.
now in your question suppose hasband transfered share to wife without considration then it is chargeabl to tax in the hand of husbund.
first transection here is husbund transfered share to wife, it is not chargeable to tax
second transection is wife sold share to some other person the provisions are as followd....
if wife sells such share to any other person & any profit arouse then it is chargeble to tax in the hand of husbund.
further if it is subjuct to STT then this exemption is available to husbund.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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