- What is the tax treatment for gift in cash or kind?
- Do I have to pay tax on gifted shares?
- Can I buy shares for someone else?
- How do I buy stocks in my child’s name?
- Can I transfer my stocks to my son?
- What does share transfer mean?
- Can we have 2 demat accounts?
- What is a good stock to buy for a child?
- Is Zerodha safe?
- How do I transfer shares to a family member?
- Is there any restriction on the transfer of shares?
- Can I transfer my demat account to my wife?
- How do I gift stock to my child?
- What are the tax consequences of gifting stock?
- Can minors own shares?
- How do I transfer shares from father to son?
- Can shares be transferred from one demat account to another?
- Can Share be transferred?
- Is gift deed necessary for transfer of shares?
- Is give a share legit?
- Do shares have to be sold on death?
What is the tax treatment for gift in cash or kind?
Gift of money: Aggregate value of cash gifts received without consideration during a financial year (FY) would be taxable as other income in the hands of the recipient.
However, if the aggregate value of such gifts is less than Rs 50,000, then it would be exempt from tax..
Do I have to pay tax on gifted shares?
Giving shares treat the shares as if you disposed of them at their market value on the day you gave them as a gift. may have a capital gain or a capital loss – this means a capital gains tax event occurs and you must include any applicable capital gain or loss in your tax return for the year you gave away the shares.
Can I buy shares for someone else?
You can purchase a single stock certificate as a gift using a company such as OneShare or GiveAShare. Select the stock, provide the name and address of your recipient and then pay for the stock. If the recipient is a minor, provide the name and address of the minor’s custodian.
How do I buy stocks in my child’s name?
Minors can’t buy stocks, so you will have to do it on their behalf. You have two options when it comes opening an account for your children: Guardian Account: You retain ownership of the account, and gains are taxed at your rate. Custodial Account: The child owns the count, even though you are in control of it.
Can I transfer my stocks to my son?
Yes, you can gift stock directly You can transfer it directly from one brokerage account to another. You don’t mention your daughter’s age, but even if she were a minor, you could open a custodial account for her and make the stock transfer.
What does share transfer mean?
A share transfer is the process of transferring existing shares from one person to another; either by sale or gift. This article will cover how to transfer existing shares within your company, a guide for allotting shares can be found here.
Can we have 2 demat accounts?
It is perfectly legitimate to have multiple Demat accounts just as you can have multiple trading accounts. The only condition is that you cannot have multiple trading accounts or multiple Demat accounts with the same broker or the same DP.
What is a good stock to buy for a child?
If you want to give your kids a head start on investing, giving them shares of V.F. Corporation, Waste Management, Inc., American Water Works Company, Tesla Motors, Inc., or Netflix, Inc. could be a good place to start. Energy, Materials, Transportation, and Industrial stocks commentary.
Is Zerodha safe?
Yes, Zerodha is as safe as any other stock broker in India. Zerodha is a genuine and trusted stock broker . They are among the lowest risk broker for the following reasons: Zerodha is a debt free company.
How do I transfer shares to a family member?
Shares owned by a person can be gifted to another person (relative or otherwise) by following a certain procedure. Since gifting constitutes a transfer, and the transfer is for no consideration, such a transfer can be carried out using the “off market transfer” mechanism.
Is there any restriction on the transfer of shares?
Restriction on transfer Section 2(68) of the Companies Act 2013 provides that the Articles of a private company shall restrict the right to transfer the company’s shares. This restriction is binding upon the company and members thereof.
Can I transfer my demat account to my wife?
Yes, you can transfer shares from any account to your account by giving off-market delivery instructions slip to holders DP. There are some minimum charges to transfer the shares.
How do I gift stock to my child?
If the stock is in certificate form, you’ll merely go to your child’s bank or your own brokerage and sign the stock in the presence of someone serving as a guarantor. Look on the back of the certificate to see if there is a form to complete in order to transfer the stock and check with the bank before filling it out.
What are the tax consequences of gifting stock?
If your loved one sells the stock, the cost basis will be your original cost, $10 per share. If your loved one sells the stock at $25, he or she will be taxed on a gain of $15 per share. The tax will be assessed at the short- or long-term capital gains rate, depending on how long you owned the stock.
Can minors own shares?
There is no statutory provision prohibiting a child from owning shares. … That may make it difficult to enforce payment for the shares against a minor. Some companies will not accept shareholders under the age of 18 years by provision in their articles or terms of issue.
How do I transfer shares from father to son?
Purchase Transfer Deeds according to number of scrips. Signatures of both Transferor and Transferee are required on that Transfer Deed. 2. You need to pay Transfer charges while filling out a Transfer Deed, which is currently at Rs.
Can shares be transferred from one demat account to another?
The transfer of shares from one Demat account to another can be done in two ways – Manual and Online. In manual transfer of shares, the transfer may be Intra-Depository Transfer or an Off-Market Transfer. … Note that the shares need to be transferred along with their ISIN number.
Can Share be transferred?
While transfer of shares from one demat to another can be done online, the more popular method is the manual transfer of shares from one depository to another. There are broadly two types of transfer viz. intra-depository transfer and inter-depository transfer.
Is gift deed necessary for transfer of shares?
Since shares are considered “movable property”, it is not mandatory to execute a gift deed while gifting. A gift is a transfer of movable or immovable property from one to another without consideration. Shares owned by a person can be gifted to another person (relative or otherwise) by following a certain procedure.
Is give a share legit?
Is Giveashare legitimate. GiveAshare is a highly reputable business founded in 2002. The company is a Google Trusted Store, is recommended by stock brokers and financial advisors, gets constant positive media attention, and has stellar Google Reviews, product reviews, and A+ BBB rating.
Do shares have to be sold on death?
If someone owned shares at the time that they died, then these will be included as part of their Estate and they will need to be sold or transferred as part of the Estate administration.