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Capital gain

Others 416 views 1 replies

keval gandhi

Job in Ca firm

69 Points Posted on 23 August 2013

i m 19years old..i have RS.50000 Shares cost of shares is Rs5000...now i want to transfer all the shares to my sister(age 22)without any consideration...now what is the tax liability to my sister...her cost would be RS.0..???or Cost would be RS..50000..??or Rs.5000..????Please reply

Replies (1)

Manoj Pandit

student

139 Points Posted on 24 August 2013

Donee's cost of acquisition will be same as of the cost of acquisition by the donor u/s49(1) of it act,1961. Though it's not taxable in the current a.y. of transfer as it is transfer/receipt without consideration from relative. Tax treatment of capital gain comes into picture when donee transers it.

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