Tax on transfer of equity shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 October 2012
My brother wants to transfer his equity shares to me valuing approx Rs 5 lacs, as he remains out of town mostly...Can this transfer be effected through a Gift Deed, if not, what is the procedure..
So
1. If there is STCG in those shares, who will have to bear the tax liability.
2. If i do intra day transactions against those shares, who will have to bear the tax liability..
Thanking you in advance..
So
1. If there is STCG in those shares, who will have to bear the tax liability.
2. If i do intra day transactions against those shares, who will have to bear the tax liability..
Thanking you in advance..
Amol S Joglekar
(Expert)
09 October 2012
01. STCG is to be borne by the transferor unless otherwise it is specifically agreed upon to the contrary. 02. The intraday transactions are done through 'trading account' The gain/loss shall accrue to the holder of this 'trading account'
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