Off-market debit transactions of listed equity share & Income Tax
This query is : Resolved
Quick Summary
03 July 2022
Dear Sir,
There is off-market transfer of few shares from Mother to her son. These transactions are appearing as Value of off market debit transactions of listed equity share in mother's Annual Information Statement (AIS). End of the Day value is Rs. 7182/- and consideration column has zero value.
What are the implications of this transactions? whether they are required to be reported in Income Tax Return of Mother?
Kindly guide.
Thanks & Regards,
Suraj
There is off-market transfer of few shares from Mother to her son. These transactions are appearing as Value of off market debit transactions of listed equity share in mother's Annual Information Statement (AIS). End of the Day value is Rs. 7182/- and consideration column has zero value.
What are the implications of this transactions? whether they are required to be reported in Income Tax Return of Mother?
Kindly guide.
Thanks & Regards,
Suraj
CA R SEETHARAMAN
(Expert)
04 July 2022
It's a gift to son exempt from tax ignore it.
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CA R SEETHARAMAN
(Expert)
04 July 2022
You are welcome................
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