Facts: I have some shares of Indian companies in my demat account opened through HDFC PMS. The capital gains, if any, on these are mostly “long-term” as I have held these for more than 1 year, making it exempt from income.tax. Some of these have incurred losses too. I am a non-Resident and do not file Tax returns as I have no taxable income in
I would like to transfer these shares into my wife’s demat account. She holds a trading account with SIB on “Resident” basis, and files ITRs.
Question: What are the tax implications on this transfer in my hands / in my wife’s hands? Does the transfer attract any Gift or other Taxes? How is the Capital Gains on subsequent sale of these shares calculated in my wife’s account?
Much appreciate any advise or directions on the above.