Here is the Step by Step Process of Gifting a Share :
- You can gift stocks, ETFs, and gold bonds to friends and family through the gift stocks feature on Console.
- Enter the name, mobile number, and email address of the Reciever.
- Select the stocks, Gold bonds,ETFs you want to gift from your holdings. Please note that you can only gift stocks that are in your demat.
- Now Wait for recipient to accept, The Gift request is valid for 7 days within which recipient has to accept the shares gifted.
- On Acceptance, Sender will receive an SMS and E-Mail for verification, After approval from the CDSL T-Pin of sender, Stocks Transferred from sender’s dmat account to receiver’s dmat Account.
- This is completely off-market Transaction which happens at 5 PM on every trading day, You will receive an Email and SMS from CDSL with this link to verify transaction using OTP till 8 PM.
- Once the transaction is verified using OTP, Shares transferred from Sender to receiver account.
- Charges : Rs. 25 or 0.03% of transferred amount, whichever is higher.
- For the purpose of Profit & Loss calculation, the closing price of the transfer day is considered.
- For Tax implication : no tax on sender.
- Receiver has to pay tax if the total transferred amount exceed Rs. 50,000.
- Some Exception of this Tax regime :- Transfer on occasion of Marriage, Transfer due to inheritance and Transfer to relative(Which is explained in chart below).
Blog by Nimish Maheshwari & Sudarshan Bhandari
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Source : Zerodha
Note : No content of this blog should be construed to be investment advice. You should consult a qualified financial advisor prior to making any actual investment or trading decisions. All information is for educational and informational use only. The Author accepts no liability for any interpretation of article or comments on this blog being used for actual investment. This is purely an information services, and any trading done on the basis of this information is at your own, sole risk.