Gift to grandson
This query is : Resolved
27 July 2018
A Grandfather wants to Gift the Shares to his Minor Grandson. The query is does the minor have to maintain a separate Demat account or his Father’s Demat account will do and the income (Dividend) will be clubbed to whom in Income Tax ( Father or Grandfather ) and what will be the Minor’s cost of Acquisition. Please advice, thanks in advance
27 July 2018
1 His father's demat account to be used.
2 Income will be clubbed with father's income.
3 cost of acquisition will be grand father's cost.
2 Income will be clubbed with father's income.
3 cost of acquisition will be grand father's cost.
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