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DEshik   11 September 2022

Transfer to specified familymember or gift - which one to choose to off-market transfer shares in de

Respected Experts,

I hold Equity Shares in Demat account with CDSL/NSDL.

I would like to Off-Market transfer certain Equity shares to my brother's daughter ONLINE.

Since I am transferring to my relative without any consideration, there are two options available to do off-market transfer... namely "Gift" and Transfer to a Specified Family Member".

Can You please clarify, What is Difference between "Gift to Relative" and "Transfer between Specified Family Member", as per Income Tax Act?




 2 Replies

Sidhhi   11 September 2022

Make it gift. Depository won't accept transfer to distant family member with out any consideration.

DEshik   17 September 2022

Thanks Expert..

Transferring to my brother's daughter. Does'nt my brother's daughter my "relative" as per Income Tax Act ?

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