Shares transferred or selling benefit in it act
This query is : Resolved
08 April 2022
Sir,
It assessee purchase of some shares previous last 7 years .if assessess shares transferred to son or sales of shares benefit in it act.
It assessee purchase of some shares previous last 7 years .if assessess shares transferred to son or sales of shares benefit in it act.
08 April 2022
Transferred to son considered as gift no tax payable.
In case of sale 10% long term capital gains tax payable in case holding more than one year.
In case of sale 10% long term capital gains tax payable in case holding more than one year.
08 April 2022
There will be long-term capital gain since the shares are held for more than a year.
When you will transfer the shares to your son there won't be any capital gain because this type of transfer is exempted under the Income Tax Act, 1961
When you will transfer the shares to your son there won't be any capital gain because this type of transfer is exempted under the Income Tax Act, 1961
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