Gift Tax
This query is : Resolved
02 December 2009
Hi,
If father who is holding shares in his demat account for more that one year transfers the shares as a gift to his children account(will it attract gift tax) and if children sell the shares immediately from their demat account will it attract any kind of capital gains tax.
If father who is holding shares in his demat account for more that one year transfers the shares as a gift to his children account(will it attract gift tax) and if children sell the shares immediately from their demat account will it attract any kind of capital gains tax.
13 March 2012
Gift by a person to his children is exempt u/s 47.
Sale of shares by the children attracts capital gain tax.
For this purpose, the period of holding shall include the period for which the shares were held by the father.
Sale of shares by the children attracts capital gain tax.
For this purpose, the period of holding shall include the period for which the shares were held by the father.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- Bank Accounts in Balance Sheet for ITR 3
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
