19 December 2020
WHAT IS TAX IMPLICATIONS IF DAUGHTER IN LAW GIFTS SHARES TO HER FATHER IN LAW ?
WHETHER TAX WILL BE IMPOSED ON DIFFERENCE OF PURCHASE PRICE AND TRANSFER PRICE TO DAUGHTER IN LAW ? OR TAX WILL BE FULLY CHARGED TO FATHER IN LAW WHEN HE WILL SELL THE SHARES ?
19 December 2020
It will fall under gift to relative exempt from tax. Tax will be fully charged to father in law considering cost of purchase of daughter in law.
CAclubindia
