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Gift as per IT

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(Querist)
16 November 2009 Mr. X has 10L shares (FV= 10, purchased at Rs. 3). HE want to gift these shares to hid grandmother at Rs. 10 or 15.
1. Will it be exempted as 'relative'
2. Any Cg tax?
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Guest (Expert)
16 November 2009 It Will be exempted as relative.

No capital gain tax.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
16 November 2009 yes its exempt to gift tax. No CG tax.




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