Gift of assets earned in india by nri son to parents

Gifting ur shares and FD will not result to any taxation, niether to u nor ur parents.

Subsequent income received on FD and shares will be taxable to the transferee. In case of subsequent sale of such shares the cost for the purpose of capital gain shall be the cost at which u had bought the shares.

Yes it is important to prepare the documentation for gift.

Also income arising after you gift the assets shall be taxable in the hands of your father and mother.

Anuj

femaquery @ gmail.com

when donee gets revenue income then only taxable as tax law is only on receipts of money in money terms not in notional terms, for it is done to control money flows in the country uncontrolled, or that great work tax is like commission the union govt takes to its public exchequer not for abuse of that money!.. dr g balakrishnan, rapidanalysts @ gmail.com