Regarding transfer of XYZ share multiple times as GIFT to family member
This query is : Resolved
Punit Yevale
(Querist)
11 February 2022
Hi All, If i want to gift share to my mother demat account and i again wanted to transfer those share to my account from mother's account. Is it possible? and is there any tax implication? By transferring again back to me, to determine nature of capital gains whether STCG or LTCG, the date of acquisition by the previous owner till date of sale is necessary. Could you please confirm date of acquisition will be considered from since i have purchace those shares first or it will be consider when my mother got the shares before again transferring back to me?
CA R SEETHARAMAN
(Expert)
11 February 2022
Yes, it's possible for such transfer. No tax applicable as it will be considered as gift.
Capital gains will not arise.
Capital gains will not arise.
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