Capital Gains on shares received as gift.

Dear Pankaj Ji,

My mother had gifted me shares of companies like DrReddy, ITC etc. worth 4Cr in March 2011 through a notified and properly witnessed gift deed. She had acquired those shares in last 30 years and were in her demat for more than a year before she gifted me. If I sell these shares what would be the tax implications.

asked Jan 10 '12 at 22:13 by Naveen Jhanjee 6123

If all these stocks are listed on Indian stock market and STT (securities transaction tax) is paid on transaction, there won't be any income tax payable.

Long term gains (sold after one year of holding) on listed equities are exempt from income tax.

answered Jan 10 '12 at 22:33 by Pankaj Batra 5.2k320


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Asked: Jan 10 '12 at 22:13

Seen: 2,269 times

Last updated: Jan 10 '12 at 22:33