Respected learned Experts...
Myself and my brother hold demat account in our joint names with my brother as first holder. What is the tax implication of transfer of some shares from this demat account to another demat account where my brother is second holder & his wife is first holder.
Will the transfer attract Income tax, LTCG, or any tax?
What is the procedure to do the transfer from this jointly held demat account and what form need to to filled ?
On receipt of the shares in my brother's jointly held demat account, should he inform the same in his income tax returns?
Kindly enlighten sirs...
CAclubindia
