Regarding transfer of Capital Assets

Amshumali Sharman (AA) (24 Points)

22 February 2024  

An Indian resident owns securities of companies listed in a foreign country. The resident's children are non-residents living abroad. He wants to provide money for his children. If the resident is planning to dispose of his holdings is it better to liquidate them or can he gift the securities to his children?  Is there a requirement to file forms in the portal or get approval from statutory authorities in India, in case of transfer of the securities? Will the provisions regarding taxability of gift be applicable here?