TAXABILITY OF GIFTING SHARES
This query is : Resolved
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 ?
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.
Tax will be fully charged to father in law considering cost of purchase of daughter in law.
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