Q. gifting of stock in trade

256 views
Question added Apr 4 Income Tax By CA K Rajendra Prasad, CA, Ongole
Mr.X is doing business in shares.

He has been admitting profit from sale of shares as "Profits & Gains of Business / Proession"

He wants to gift closing stock of shares to his daughter

what are the tax implications of such gifting of shares held as stock in trade.

Concept by CA Pramod Jain

Experts Panelist

  • CA Virander Kumar Chauhan Goods and Services Tax (GST) Answers Posted : 9148
  • CA PRAMOD JAIN Audit and Accounting Standards, Corporate Matters/LLP, Goods and Services Tax (GST), Income Tax, Ind AS, Insolvency and Bankruptcy Code, RBI / FEMA, SEBI, International Taxation , Transfer Pricing, Benami Property Law, Bank / Insurance / Stock / Debtors Audit, Internal Audit, Code of Ethics, ICAI, Miscellaneous, Investment & Finance, Valuations Answers Posted : 8661
  • CA Raman Khatuwala Goods and Services Tax (GST) Answers Posted : 3808
  • CS Divesh Goyal Corporate Matters/LLP, Insolvency and Bankruptcy Code Answers Posted : 1815
  • CA Prakhar Bansal Audit and Accounting Standards, Corporate Matters/LLP, Goods and Services Tax (GST), Income Tax, Bank / Insurance / Stock / Debtors Audit, Code of Ethics Answers Posted : 1424
  • CA MANOJ PAHWA Goods and Services Tax (GST), Income Tax, Insolvency and Bankruptcy Code, RBI / FEMA, International Taxation , Transfer Pricing, Benami Property Law, Bank / Insurance / Stock / Debtors Audit, Miscellaneous Answers Posted : 1297
  • CA CA. RAJESH KUMAR KHANDELWAL Goods and Services Tax (GST), Income Tax, Bank / Insurance / Stock / Debtors Audit, Valuations Answers Posted : 1210
  • CA PRAVEEN SHARMA 9871530610 Goods and Services Tax (GST) Answers Posted : 1101
  • CA ASHU GARG Goods and Services Tax (GST) Answers Posted : 959
  • CA Rajesh Saluja Goods and Services Tax (GST) Answers Posted : 823
  • View more

30,061 questions

36,116 answers

123 experts

9,728 querist

...