Is it possible for a company to gifts its investments to a relative of a director or the director himself?
If yes, what are the tax implications?
Niraj Dugar (Articled assistant) (117 Points)
01 February 2013Is it possible for a company to gifts its investments to a relative of a director or the director himself?
If yes, what are the tax implications?
i dont know whether is it possible for company to gift its investments to director or his relative
but as far as taxability of that gift,
those gifts will be taxable in the hands of director or his relative as the case may be, if the fair market value of the gift exceeds Rs 50000/- as per section 56 (2)(vii)(c)(i)
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