If a person bought some shares and then transfered them to his spouse.Does that person need to pay capital gains tax or tax would be paid by spouse when shares are sold.
RE:Transfer of shares
by nilesh velani on Dec 16, 2007 12:38 PM Permalink
if share is sold after 12 months, then no tax liabilities is arise because its treated as capital gain
RE:Transfer of shares
by Amitabh on Apr 06, 2007 02:28 PM Permalink
I think the answer is very clear in the article itself.If an individual transfers an asset to his wife, who in turn, sells it for a profit, then the capital gains accrued is charged to the husband.Till the shares remain with the wife,there is no question of any capital gain but when the shares are sold by the wife,the capital gain,if any,will be charged to the husband.
