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Share transfer
Share transfer on face value remaining amount as gift (means share book value rs 100 and face value rs 10 and we transfer share on rs10 as consideration and remaining amount considered as gift. can we do this. if this can be done on what amount stamp duty will be payable.
Replies (4)
dear member
This can surely be done. However, the provisions of Sec 56 of Income Tax Act, 1961 will be attracted in this case in the hands of the transferee.
Also, the stamp duty is always payable on the higher of market value or the consideration value.
Hope this helps.
if we transfer shares to a relative without any consideration,
stamp duty liability arises or not ?
It does arise.
In such case, market value of the shares is deemed to be the full consideration.
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