Re : gift.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 May 2012
Dear Sir/Madam ,
(1)Please advice whether Gift by my Mother to me and my wife of Listed Companies Shares is Tax Free ?
&
(2) Is it necessary to have GIFT Deed ?
(3) If Gift Deed is necessary , Please advice whether Stamp Paper is required for Gift Deed ?
(4) If shares gifted by my mother are inherited to my mother from my Father 6 Years back then Do I have to pay Capital Gain ?
(1)Please advice whether Gift by my Mother to me and my wife of Listed Companies Shares is Tax Free ?
&
(2) Is it necessary to have GIFT Deed ?
(3) If Gift Deed is necessary , Please advice whether Stamp Paper is required for Gift Deed ?
(4) If shares gifted by my mother are inherited to my mother from my Father 6 Years back then Do I have to pay Capital Gain ?
02 May 2012
01. Yes it is taxfree w.e.f. 01/10/2009. 02. Gift deed per se is not required. But if you make the gift deed, ensure to pay the appropriate stamp duty. Please keep a letter duly signed by your mother in the file for future reference. 03. The question of capital gain will arise when you will sell those share.
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