Tax liability on share gifted from father
This query is : Resolved
10 September 2016
I have received equity shares worth 7.5 lakh from my father through dmat in Jan 2016. These shares were held by my father for more then 30 yrs.
Is there a tax liability on me for receiving these shares? These shares are for long investment and not sale by me.
I have already filled the IT form for 2015-16 in Apr 2016 and not shown these as income.
Please advice
Is there a tax liability on me for receiving these shares? These shares are for long investment and not sale by me.
I have already filled the IT form for 2015-16 in Apr 2016 and not shown these as income.
Please advice
11 September 2016
No tax liability on receiving this share, it will be treated as gift from relatives exempted from tax.
Need not be shown as income in ITR.
Need not be shown as income in ITR.
11 September 2016
No tax liability on receiving this share, it will be treated as gift from relatives exempted from tax.
Need not be shown as income in ITR.
Need not be shown as income in ITR.
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