Taxability on shares as gift

If the FMV of the movable property exceeds Rs 50000 then the whole amount will be taxable u/s 56(vii).

wat if the same is recvd from a relative??

If the gift is received from relative as define u/s 56(vii) then it is not taxable in the hand of assessee.

& how do i go abt with the transfer as the shares are listed & long term in nature

& how do i go abt with the transfer as the shares are listed & long term in nature

I am not getting it... Plz explain a little bit more...

 

There is no Tax either on doner or donee in India on the gift made by any Individual to his relatives u/s 56 of the Income Tax Act, hence gift of Moveable Property made by any Individual to his relative in India is not Taxable. However registration in case of immoveable property is mandatory. The amount of registration fee and stamp duty is different in different States of India. No stamp duty is required in case of gift of moveable property.hence such gift is not taxable in hands of assessee

i need to transfer shares from his demat to mine..