How to file gift of unlisted shares to friend upon his marriage on my ITR-2?
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Gift of unlisted shares to friend upon marriage
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For the donor filing ITR-2, gifting unlisted shares does not trigger capital gains tax. However, they must declare the transaction in "Part A - General" under the unlisted equity shares section by showing the shares in the "Shares transferred during the year" column. For the friend receiving the shares, the gift is completely tax-exempt because it was received on the occasion of their marriage.
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