Gift of mutual fund

This query is : Resolved 
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This discussion explores whether a father can gift mutual fund units to his child. The consensus is that gifting mutual funds to a relative is tax-exempt for both parties. It was clarified that physical (non-demat) mutual fund units can indeed be gifted, and the process is being discussed.

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(Querist)
17 March 2022 Hello All
I want your valuable advise.
My father want to gift one of his mutual fund . Can he do it?
If yes then how it is taxed in both hands. Pl explain pl.
Regards
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 March 2022 Yes, he can do it. In both the hands it's not taxable as gift to relative exempt from tax.
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Sanjay Budhiraja

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Sanjay Budhiraja (Querist)
18 March 2022 Sir. According to my knowledge mutual funds are not transferable.
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Rahul varshney

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Rahul varshney (Expert)
19 March 2022 Do you want to transfer the units from one DMAT to another.?
or something else.
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Sanjay Budhiraja

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Sanjay Budhiraja (Querist)
20 March 2022 Sir.
It is not . The mutual funds are in non demat form.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 July 2022 Correct. MF units in physical form not transferable.
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