Capital gains
This query is : Resolved
16 February 2012
if a father transfers his demat account to his unmarried major daughter, will he have to incur capital gains liability on the equity shares so transferred?? The demat account was held by him for less than 12 months.
Pls reply!!
Pls reply!!
16 February 2012
Such transfer shall be treated as gift. Gift is exempt in the hands of the donor u/s 47.
Further, such gift shall be exempt in the hands of the daughter by virtue of the provisions of Section 56(2)(vii).
Further, such gift shall be exempt in the hands of the daughter by virtue of the provisions of Section 56(2)(vii).
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