transfer of share from father
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 April 2010
my father want to transfer share from his demat account to my demat account will it attract any tax liability
01 April 2010
NO since the transfer will be a gift from a relative it will be exempt from tax in the hands of the son and since no consideration passes on it will be not be taxable to the father also.
But do prepare a gift deed for the same
But do prepare a gift deed for the same
01 April 2010
AGREE
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