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No. You can also transfer the shares for zero consideration as a gift. However, in this case, you will have to get the Gift deed in place. Also, income tax will be levied by treating the fair market value of the shares as income. However, it is an easier and better process to show actual money transaction in case of share transfer
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Wazzeer Professional Network
ProfessionalShare Transfer
Do we need to show actual transactions of money, when one director of a pvt Ltd transfer shares to another director.
-
Wazzeer Professional Network
ProfessionalNo. You can also transfer the shares for zero consideration as a gift. However, in this case, you will have to get the Gift deed in place. Also, income tax will be levied by treating the fair market value of the shares as income. However, it is an easier and better process to show actual money transaction in case of share transfer
almost 3 years ago
View answer
Share Transfer
Do we need to show actual transactions of money, when one director of a pvt Ltd transfer shares to another director.
-
Wazzeer Professional Network
ProfessionalNo. You can also transfer the shares for zero consideration as a gift. However, in this case, you will have to get the Gift deed in place. Also, income tax will be levied by treating the fair market value of the shares as income. However, it is an easier and better process to show actual money transaction in case of share transfer
almost 3 years ago
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