Gift of Shares under Companies Act, 2013

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Sachin Kumar (Querist)

31 January 2018 There are 10 Private Limited Companies registered in Delhi in which father, Mother and daughter are Directors and shareholders. Father and mother wants to transfer around 10,000 shares to their daughter. They want to transfer shares via Gift deed (consideration is nil) 1. Is stamp duty 0.25 % of total consideration will be payable on Share transfer deed..? 2. What amount of stamp paper is required for making gift deed..? 3. Is we have to calculate FMV as per income tax act..? {Fair market value of 10000 shares to be transferred in all 10 companies as per income tax is coming around 40 crore} 4. Is Registration of gift deed is mandatory ...? 5. Is stamp duty is payable for gift made to relatives as per 56(2)(vii) of I-T act ...? Thanks in advance.

CA Suresh Jain

CA Suresh Jain (Expert)

31 January 2018 1. Is stamp duty 0.25 % of total consideration will be payable on Share transfer deed..? -- Yes
2. What amount of stamp paper is required for making gift deed..? - Gift deed os not necessarily on stamp paper
3. Is we have to calculate FMV as per income tax act..? {Fair market value of 10000 shares to be transferred in all 10 companies as per income tax is coming around 40 crore} -- for payment of stamp duty on transfer the book value can be taken
4. Is Registration of gift deed is mandatory ...? - not necessary
5. Is stamp duty is payable for gift made to relatives as per 56(2)(vii) of I-T act ...? Thanks in advance. -- on stamp duty payable under income tax

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