Can shares/debentures be given away as gifts to relative ?
Shaji Joseph (Lawyer) 21 May 2009
Can shares/debentures be given away as gifts to relative ?
Neeraj Kalawatia (Risk Manager) 22 May 2009
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I think, gift tax act has been repealed long back.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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