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Tax Liability for receiving gift
08-Oct-2023 (In Property Law)
We are Hindu. My son is going to attain the age of 18 yr this month. His maternal grandfather wants to give him the stock shares as a gift.
Whether my son will have to pay any tax? If yes, how much? Pl guide.
This is my response to you:
1. There is no tax implications for gifting to son;
2. There is however chance that capital gains tax will have to be paid in future transactions;
3. It is advisable that, you also consult a CA;
4. A chartered accountant will be in best position to answer your query.
1. There is no tax implications for gifting to son;
2. There is however chance that capital gains tax will have to be paid in future transactions;
3. It is advisable that, you also consult a CA;
4. A chartered accountant will be in best position to answer your query.
Helpful?
Adv. Gowaal Padavi
Mumbai | 500+ Answers
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