Gift of mutual fund units to daughter

This query is : Resolved 
Quick Summary
When gifting mutual fund units, the transaction is typically considered an off-market transfer and not a taxable event. As the transferor, you generally do not need to declare this in your Income Tax Return (ITR). It's advisable to provide feedback on your AIS (Annual Information Statement) stating it's not a sale transaction to ensure clarity.

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(Querist)
12 July 2026 I gifted mutual fund units to my daughter in January 2026. Now my AIS shows this transaction as off market transaction. Kindly advise in which schedule of ITR-2, I have to show this transaction as a transferor. I understand that my daughter has to show this transaction in exempted income schedule.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
12 July 2026 You have to give feedback in your AIS as 'the transaction is not taxable'. No need to declare it in your ITR.
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Atul Sharma

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Atul Sharma (Querist)
12 July 2026 Thank you, Sir for prompt reply. I had given feedback that it is not a sale transaction. Is it ok ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
12 July 2026 Yes, correct...
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