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Gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2013 A non resident company is planning to gift shares of an Indian company to an NRI. Is there any tax implication on such gift under Income Tax Act 1961?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 October 2013 Refer sec 56(2) as it is applicable in this case.
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2013 Sir, is there any capital gain tax arising in this? And also Sec 56(2) - is it applicable to NR & NRI also?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
03 November 2013 sec56(2) some clauses not applicable to NRI.
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