Share transfer

Heaven 2011 (Querist) 19 December 2011 This query is : Resolved
Dear All,

Mr. X wants to gift his shares to Y his son. Is stamp duty and share transfer form needs to be complied? Or only a gift deed will do? Kindly advise.

Regards,
Heaven

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ajay sethi (Expert) 19 December 2011
are you still holding shares in physical form ?

The stamp duty payable for share transfer form of gifted shares would be @ 25 paise for every Rs. 100 or part thereof, of the face value or the market value of the shares prevailing as on the date of the document, if any, conveying the gift or the date of execution of the transfer deed, whichever is higher.

ajay sethi (Expert) 19 December 2011
If the shares are in the de mat mode. then the shares can be transferred to you as ur father's wish through his de mat a/c. for that both the transferer and transferee must have a de mat a/c.

Advocate. Arunagiri (Expert) 19 December 2011
I fully agree with Mr.Sethi.

Sailesh Kumar Shah (Expert) 19 December 2011
I also agree with Mr.Sethi.

Heaven 2011 (Querist) 20 December 2011
The shares are in physical form. Will only the gift do?

Sailesh Kumar Shah (Expert) 20 December 2011
what do you want to ask?

Mr. Ajay Sethi answer adequately.

Sunlawseeker (Expert) 20 December 2011
Mr.Sethi is correct. Moreover, If Mr.X still having shares in physical form, then he has to convert them into DEMAT form by opening a DEMAT account with a share broker. Thereafter he can simply transfer to his son Mr.Y.

DEMAT to DEMAT transfer is very simple.

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