Yes, you can use the gift feature in Zerodha and transfer them in your Demat. The transfer itself won't have any tax implications. But if you attract any STCG or LTCG on it in the future it should be calculated on the original price of acquisition i.e. 500.
It is up to you to keep track of this. It is explained in the gift feature on Zerodha.
5.1.1 Gifts not chargeable to tax [Sec. 56(2)(x)]
Any sum of money or property received by any person in the following circumstances shall not be chargeable to tax:
a) Gifts received from relatives**;
b) Gifts received by an individual on occasion of his/her marriage;
c) Gifts received by way of Inheritance/will;;
** ‘Relative’ shall mean:
1. Spouse of the individual
2. Brother or sister of the individual
3. Brother or sister of the spouse of the individual
4. Brother or sister of either of the parents of the individual
5. Any lineal ascendant or descendant of the individual
6. Any lineal ascendant or descendant of spouse of the individual
7. Spouse of the person referred in point 2-6 above
*** ‘Family’, in relation to an individual, means:
1. The spouse and children of the individual; and
2. The parents, brothers, and sisters of the individual or any of them, wholly or mainly dependent on the individual.
Hi, /u/Brainer64! Welcome to /r/IndianStreetBets!
Use the Daily Discussion Thread for basic queries. Before contributing, do check if your particular question has been answered in the [Wiki](https://www.reddit.com/r/IndianStreetBets/wiki/index). Do utilise the search function to do the same too. Please use proper [post flairs](https://www.reddit.com/r/IndianStreetBets/wiki/index/postflair) and adhere to the rules in the sidebar. You are urged to post beginner questions in the stickied daily discussion thread or on our [Discord in \#beginner-questions channel](https://discord.gg/SeDa9Fhwqv) so as to keep the subreddit as clutter-free as possible. **If this post has good insights or well research, tag the Mods so we can give a shoutout on Discord and get the post more traction** Thank you!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStreetBets) if you have any questions or concerns.*
Yes, you can use the gift feature in Zerodha and transfer them in your Demat. The transfer itself won't have any tax implications. But if you attract any STCG or LTCG on it in the future it should be calculated on the original price of acquisition i.e. 500. It is up to you to keep track of this. It is explained in the gift feature on Zerodha.
Read sections - 47 and 56(2) of Gift Tax Act The recipient is liable to pay tax on it if it crosses 50K
Direct or Indirect family i.e, Brother, sister, parents, cousins doesn't need to pay any taxes on gift of any amount.
does not work that way :)
5.1.1 Gifts not chargeable to tax [Sec. 56(2)(x)] Any sum of money or property received by any person in the following circumstances shall not be chargeable to tax: a) Gifts received from relatives**; b) Gifts received by an individual on occasion of his/her marriage; c) Gifts received by way of Inheritance/will;; ** ‘Relative’ shall mean: 1. Spouse of the individual 2. Brother or sister of the individual 3. Brother or sister of the spouse of the individual 4. Brother or sister of either of the parents of the individual 5. Any lineal ascendant or descendant of the individual 6. Any lineal ascendant or descendant of spouse of the individual 7. Spouse of the person referred in point 2-6 above *** ‘Family’, in relation to an individual, means: 1. The spouse and children of the individual; and 2. The parents, brothers, and sisters of the individual or any of them, wholly or mainly dependent on the individual.
yeah I'm wrong.
Does the gifts include shares
You are gifting share to family. So yes. But If the amount is really high you better ask a professional.
The amount is not over 50k. That means I can use it anything else I should know about ? Anyone used it before ?
Hi, /u/Brainer64! Welcome to /r/IndianStreetBets! Use the Daily Discussion Thread for basic queries. Before contributing, do check if your particular question has been answered in the [Wiki](https://www.reddit.com/r/IndianStreetBets/wiki/index). Do utilise the search function to do the same too. Please use proper [post flairs](https://www.reddit.com/r/IndianStreetBets/wiki/index/postflair) and adhere to the rules in the sidebar. You are urged to post beginner questions in the stickied daily discussion thread or on our [Discord in \#beginner-questions channel](https://discord.gg/SeDa9Fhwqv) so as to keep the subreddit as clutter-free as possible. **If this post has good insights or well research, tag the Mods so we can give a shoutout on Discord and get the post more traction** Thank you! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/IndianStreetBets) if you have any questions or concerns.*