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Shaji Joseph (Lawyer)     21 May 2009

Can shares/debentures be given away as gifts to relative ?

Can shares/debentures be given away as gifts to relative ?  



Learning

 4 Replies


(Guest)

 Yes. definitely

 

Neeraj Kalawatia (Risk Manager)     22 May 2009

In such case, what is the tax implication on both parties?

Daksh (Student)     01 February 2010

Dear Shaji Joseph,

As the Securities given without consideration amount to Gift as such the provisions of Gift tax should be applicable.

Best regards

Daksh

Suresh CSLLM (Service)     07 April 2010

I think, gift tax act has been repealed long back. Presently no such tax in India. It may considered income for donee as per income tax act if it covered under the relevant provisions.

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