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


Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text]( "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Jan 10 '12 at 22:13

Seen: 1,757 times

Last updated: Jan 10 '12 at 22:33