Shares gift
This query is : Resolved
01 June 2012
I have shares in my D MAT account maintained with IIL. I want to gift it out to may mother
1) Is it legally feasible?
2) Whats the best way-out? Will she have to open a new DMAT acc (she does not have one)?
3) If so, is it necessary for her to purchase scrips of her own 1st.........then receive gift shares OR she can maintain only gifted shares?
4) What is the tax-dealing about this transaction?
1) Is it legally feasible?
2) Whats the best way-out? Will she have to open a new DMAT acc (she does not have one)?
3) If so, is it necessary for her to purchase scrips of her own 1st.........then receive gift shares OR she can maintain only gifted shares?
4) What is the tax-dealing about this transaction?
Ca Anand Dubey
(Expert)
02 June 2012
The Answer is :-
1.YES
2.YES
3.NO
4.Nil tax
1.YES
2.YES
3.NO
4.Nil tax
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