gift tax from inlaws
This query is : Resolved
28 June 2010
my brother in law is gifting me shares of non listed pvt. ltd. co. will there be any tax? wat is the proper procedure of exexcution of such transfers? do we have to get it on stamp paper & if yes, of wat denomination.
Aditya Maheshwari
(Expert)
28 June 2010
gift from sisiter's husband will fall under gift from relative and hence is exempt from tax.
Gift deed must be made on a Rs. 100/- stamp paper at the time of giving the gift.
Gift deed must be made on a Rs. 100/- stamp paper at the time of giving the gift.
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