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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Transmission of Shares
Replies (3)
Refer sec.48,49,55(2) and definition of 'transfer' u/s 2(47)
| 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.
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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