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Share transfer Without Consideration

This query is : Resolved 
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(Querist)
18 January 2022 Dear Sir,

In a Ltd company which is not listed in share market and out of his one shareholder transfer his shares without consideration to his relative.

can this is okay or not then what is the way for the same.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 January 2022 It's okey in case relative it will be considered as gift not taxable.
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