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Tax implication on transfer of shares

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(Querist)
09 December 2016 If any shares have been transferred to person "X" other than a relative covered under Income tax act 1961 what is the tax treatment. Is it taxable in the hands of Transferor or transferee.
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
09 December 2016 Any capital assets transferred during the previous year is taxable in the hands of transferor under the head Capital Gain. Shares are capital assets and capital gain will arise in the year of transfer in the hands of transferor.
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CA Suresh Jain

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CA Suresh Jain (Expert)
09 December 2016 Value of shares transferred to a person other than relative ( as defined in Income Tax) is taxable in the hands of the recipient if amount of Gifts received by him exceeds 50k in a FY
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