Father gifted stock in trade to Son. Father bought in 1.4.2020 for 1 lakh and kept valuing stock on Cost or NRV lower. As on 31.3.2023, stock was valued for 90,000 and he gifted it to his Son on 1.4.2023 who would be using it for his business and claiming dep on it.
what are the tax implications in the hands of father and son, with sections reference ?
Menu
Father gifted Stock in trade to Son
Replies (1)
https://www.hdfcbank.com/personal/resources/learning-centre/invest/know-the-income-tax-implication-on-gifting-of-shares#:~:text=As%20per%20Indian%20law%2C%20you,and%20shares%20are%20no%20different.
Recent Topics :
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
Related Topics :
CAclubindia
