banner_ad

Shares received as gift

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 January 2013 I received shares of unlisted companies as gift in my HUF A/C from my Uncle, it is taxable as gift tax , further when the same was sold to others what is the treatment of receipt from sale as per IT act
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
24 January 2013 Your uncle is not member of your HUF so he is not a relative of your HUF.
.
Fair Market Value of shares according to Rule 11U or 11UA , will be taxable in the hands of HUF as Income if such FMV exceeds Rs. 50000/-.
.
For the purpose of computation of capital gains on transfer -Such FMV will be treated as cost of acquisition for the HUF, when such shares will be sold to others.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details