What are taxation rules for gifting shares, property or monetary gifts?
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- Опубликовано: 6 авг 2024
- In this video, Vishvajit Sonagara, founder of @Quicko, explains how gifting shares, property or monetary gifts are taxed in India.
You can gift your loved one's stocks, ETFs, and bonds from your Zerodha account. Watch this video to learn the process: • How to gift stocks, ET...
0:00 - Introduction
1:45 - What is a gift as per the Income Tax Act?
2:55 - Tax implications on gifts in India
5:53 - Calculating the taxable value of a gift
8:28 - How to declare tax on gifts in India?
9:15 - Closing
Very informative and explained in simple language
In case of immovable property there is also a clause that states that if SDV is with in 110% of sale consideration then it is not covered in 56(2)(x).
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Can you please share list where clubbing provisions not applicable
why the avg price is showing as LTP after receiving the shares. In that case, whats the use of gifting shares. Suppose my father who is donor has the avg price as 1200 and when i recive it and LTP is 1800 in my holding its entry price of mine.
@Quicko !
How are the Gifts to HUF considered ? Can my in-laws gift shares to my HUF ?
How to specify that the amount been transferred to someone is actually a 'gift' ?
Sir intraday trading sikhni h kaise sikhu
Playlist bta do (hindi me)
So my brother has shares worth x amount and they are at a 50% capital gain. If he gifts them to me, and I sell them, what is my taxable amount? Is it 1) on only the capital gain of 50% or
2) if it didn't grow after I received them then 0 taxable?
3) or on the entire amount that I would receive?
Hey can bhanja gift a share to his mama? If yes then can it be under gift from relatives or should pay tax under the income from other sources?
Can you confirm If i am gifting my mom shares held by me.. above 50000 will it be taxable. since it falls under the concept of relatives ideally it will not be taxable. However wanted to confirm the same
Sir Is sender have to pay tax for gifting shares?
If shares purchased by son is 20lk he gifts to parents at that time price is 15lk so tax will be on 15lk amt ? Secondly will it show automatically else one needs to declare it
Hi. If I gift mutual funds worth rupees 80k to my minor son in a year. What are the tax implications to me and my son. Pl explain
Can we please explain how it is taxed for the person who is gifting (giving the gift)
Hey, there is no tax applicable for the sender of the gift, provided that provisions of clubbing aren't applicable.
Hi, do the donee need to declare the gifts received from relatives? Ultimately these gifts are tax-free...
While gifts received from relatives are not taxable, they should be reported while filing ITR under Schedule EI.
Note: Schedule EI is a section of the ITR form, where EI stands for Exempt Income.
what about clubbing of income
Hello ! I want to gift my Long term holding shares to my spouse , she will sell them later in this financial year. As she is buying property which she is going to use these funds. Are my gifted share long term capital gains are taxable to her ? Please confirm ! As per 54F any long term capital gains are exempt if equality amount is investing in buying a property .
Please confirm !!
sir, i have transferred shares in my wife zerodha account, differences of buy price (profit amount ) is showing in my tax p&l statement. why ?
i purchased sunpharma shares of Rs.50k and at the time of transfer it was worth of around Rs.106000... profit was around Rs.56000..... and after transfer this 56000 is showing as a profit in my TAX P&L Statement. why ? and how to present it at the time ITR Filling.
Hi, for tracking and reporting purposes, the stock's closing price on the day the stock gets transferred is the exit price for the person gifting the stock, and the same price is used as an entry price for the person receiving the gift. Explained here: support.zerodha.com/category/your-zerodha-account/transfer-of-shares-and-conversion-of-shares/gifting-securities/articles/gift-shares
Hi,
Eg:- I bought 100 shares of company A at 100/- after 1 year I gifted them to my wife when the share price was at 120/- and she sold those shares within a year of gifting them when shares were trading at 150/-
(Assuming gifted value of shares exceeds 50,000/-) then:
1. What will be the cost of purchase of shares for my wife ?
2. Who will pay tax here my wife or me ?
3. Will the clubbing of income provision be applicable here or not ?
Hey,
The cost price would be at which the shares were originally purchased. i.e ₹100 in our case.
Clubbing of income will be applicable and hence, you will have to pay tax on the gains.
However, if your spouse possesses professional knowledge due to which the income, i.e. the profits were generated, clubbing will not be applicable and she'll be liable to pay the taxes.
Sir I have an imp. question I GIFTED WORTH OF RS 50 LAKH SHARES TO MY FRIEND AND MY FRIEND DOESN'T HAVE ANY OTHER INCOME HE DON'T HAVE ANY CASH TO PAY TAX RIGHT NOW IN OTHER SOURCES AND HE DON'T WANT TO SELL THE SHARES FOR NEXT 10 YEARS THEN HOW TAX WILL BE COLLECTED FROM MY FRIEND i.e TAX ON SHARES ON GIFT WILL BE LEVIED IN RECEIVE OF SHARES OR SALES OF SHARES ??
IN YOUR EXAMPLE OF TAXATION OF TOTAL 10.75 LAKHS HIS OTHER INCOME DOES NOT GET TAXED AT 30% AS OTHER INCOME DID NOT CROSS 10 LAKHS. AND IF TIT IS LONG TERM CAPITALGAIN WILL BE TAXED AT DIFFERENT RATE OF 20%
If Rahul borrows 2 lakh rupees from Mohit, is it taxable or not? are you talking about a gift as a substance or gift as a cash?
Hello, gifts and loans are different. If you are borrowing money and taking a loan from someone, you are not required to pay any tax on it.
However, gift in any form, whether cash or in the form of a movable/immovable property, is taxable if the value exceeds ₹50,000.
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