June 26, 2012 10:40 am
My Father has some shares in his DEMAT account. He wants to transfer those to my demat account. What is the process and does that call for any tax implications?
Dear Rajum, your father can transfer these shares off market. Please ask him to fill TIFD slips or ask your father’s broker for help. At the same time, prepare a gift deed in which your father ‘ll declare that he is gifting so & so shares to you (his son). Both of you should sign the same.
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