Share Transfer Tax Implication
This query is : Resolved
Proloy Samaradivakera
(Querist)
06 August 2024
If I transfer shares worth Rs 10 lacs from my Demat Account to my wife's Demat account : i) what are the tax implications for this transfer transaction for both of us? What are the tax implication on both of us ii) if Dividends are received by my wife iii) if the shares are sold by my wife after 1 year of transfer?
06 August 2024
1. If it is gift transfer and not sell; no tax liability over either of you.
2. Both dividend & capital gain over sell will be taxed in your hand.
2. Both dividend & capital gain over sell will be taxed in your hand.
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