This discussion clarifies whether an NRO son needs to pay capital gains tax when transferring equity shares to his father. Capital gains tax is indeed applicable to the son, with the tax liability determined by the holding period of the shares. It's advisable to account for these gains or losses when filing tax returns.
03 August 2020
sir This is regarding equity shares of my NRO son who transferred his shares to the father in the month of November 2019 is there any capital gain to be paid by the son when he files his ITR. Please clarify Thanking you