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Tax on shares as gift.

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(Querist)
16 April 2015 Hi,

Suppose I get shares as gift from my blood relations and I sell them off, will I be taxed ?
Market value is about 7,00,000.

Please advise.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 April 2015 In case the shares have been acquired by the donor prior to one year and when you sell such shares in BSE/NSE (STT is paid by you),
then the capital gain arising on such sales is exempt U/s 10(38).
.
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dhruv

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dhruv (Querist)
16 April 2015 Thank you,
These shares were bought my donor around 6-7 years ago. and were partly sold by me on march 15 and rest were sold in April first week.
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dhruv

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dhruv (Querist)
16 April 2015 Thank you,
These shares were bought my donor around 6-7 years ago. and were partly sold by me on march 15 and rest were sold in April first week.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 April 2015 Just keep safe the copies of the relevant documents in your possession. There is no taxable capital gains.
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