Shares transfers by gift

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PRABHPREET SINGH (Querist)
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07 March 2012 1.IF MR. A WANTS TO TRANSFER THE SHARES OF THE COMPANY TO HIS SON BY GIFT, THEN IN THAT CASE WE HAVE TO PAY THE STAMP DUTY OF 0.25% OR NOT???

2. IF THE ABOVE SAID COMPANY OWNS SOME LAND AND BUILDING AND THE SHARES HAS BEEN TRANSFERRED BY GIFT, THEN IN THAT CASE, IS THERE ANY COMPLICATION UNDER INCOME TAX ACT? AND IS THERE ANY LIABILITY TO PAY THE STAMP DUTY ON PART OWNERSHIP OF THE BUILDING TRANSFERRED?

Ajay Mishra

Ajay Mishra (Expert)
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08 March 2012 Hi

As per my knowledge,in gift, no consideration is involve so you can not decide the amount of stamp duty.However, you will pay gift tax on such transfer.

Stamp duty will not required to pay on such gift transfer.

Regards

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