Transmission of Shares

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Student
149 Points Posted on 27 July 2020
Dear Sir / Madam,

What is taxability of shares, Bonds transferred to nominee in the event of death of Actual shareholders? Which section of income tax is to be referred kindly confirm?

Waiting for Response of experts. Thanks in advance.
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On 27 July 2020 at 21:06 Report
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This discussion addresses the taxability of shares and bonds transferred to a nominee following the death of the original shareholder. Experts have referenced sections 48, 49, and 55(2) of the Income Tax Act, along with the definition of 'transfer' under section 2(47), to explain the capital gains computation and cost of acquisition in such scenarios.

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Student CA Final
90 Points Posted on 27 July 2020

Refer sec.48,49,55(2) and definition of 'transfer' u/s 2(47)

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On 27 July 2020 at 23:25
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Practice
4510 Points Posted on 28 July 2020
Originally posted by : Venkatramana Shastry C
Refer sec.48,49,55(2) and definition of 'transfer' u/s 2(47)

Dear Shastry G

 

Kindly give context of the above provision as you mentioned for better understanding.

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On 28 July 2020 at 08:22
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Student CA Final
90 Points Posted on 28 July 2020

Sec48- Refer as to the method of computing capital gains

Sec 49- Refer 49(2A) for cost of acquisition of shares/bond to be read along with clause (x) and (xi) of Sec. 2(47)

Sec 55(2)- Refer 55(2)(ac) regarding C.o.A w.r.t sec.48and 49.

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On 28 July 2020 at 16:10

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