Gift of shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2014
Can any 1 tel me if the shares are gifted to the relatives are taxable as capital gain.If so, whether it is taxable as long term or short term capital gain.
Whether the cost to be considered is the cost to the previous owner
Whether the cost to be considered is the cost to the previous owner
02 March 2014
where relative is covered in the definition of relative as prescribed under section 56(2), then no tax is applicable.
where the relative sells these shares, the cost shall be the cost to the previous owner..
where the relative sells these shares, the cost shall be the cost to the previous owner..
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