Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2012
"A mother transfers equity shares worth Rs 16 lac to her son (without consideration" ) Whether the above transaction attract provisions of Gift Tax Act ?
"A mother transfers equity shares worth Rs 16 lac to her son (without consideration" ) Whether the above transaction attract provisions of Gift Tax Act ?
02 March 2012
Any type of gift between the relatives didn't liable for gift tax. Relative definition includes gift received from the parents. So your transaction is not liable for the gift tax.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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