Share transfer without consideration

Yes shares can be transferred without consideration. If the shares are in demat form, the donor can submit a delivery instruction slip to his depository participant. Delivery instruction slip should have information like Donee's Name, Demat account details of Donee, name, quantity and ISIN number of the Shares to be transferred. Donee should submit a standing receipt instruction to his depository participant. 

If gifting shares in physical form, fill and sign the share transfer deed in form 7B.  Transfer is complete once the deed is register in the name of Transferee. 

Gifted securities does not attract stamp duty as consideration is NIL.