Gift Tax on shares transfer

Dear Sir/Madam,

I want to transfer/gift some shares from my Demat A/C to my son's Demat A/C. Is any Income Tax is to be paid in this case.

If yes, who has to pay the Tax (myself or my son) & how to calculate the value of tax if I mention the value of consideration 0. Is it OK if mention the value of consideration 0?

Thanking you. Best regards, RAKESH

Replies (5)

no tax on gift from father to son

make a statement on plain paper mentioning date of acquisition , no of shares, cost value of every share this statement he will need at the time of booking profit, to calculate capital gain.

however u may have to pay nsdl charges towards shift of shares from yours to son. 

no tax in your case

no tax paid on gift in this situation..............
 

Thanks to everybody who replied to my query.

For share transfer the value of consideration is to be filled. I guess this is meaningful only if the share is being sold. But in case it is being gifted/donated, the value of consideration must be 0? Kindly comment.

 

to fill TIFD, fill "off market trasaction /purpose "gift" / value "zero"" some banks does not allow zero, so u can fill notional value or face value as printed on certificates, it does not matter at all for your transaction.

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