I’m a resident Indian and wanted to gift the shares worth 15L to my first son who is an NRI and holding non-pis account with Zerodha.
- Is it legal and allowed?
- Do I need to pay any taxes?
- My son will attract any taxes?
- How to do this gift transfer from Zerodha?
- Any other legal/tax complexities?
@Quicko can you assist, please.
You can follow the steps given here to gift the shares.
@ShubhS9 – Thanks for the quick reply. So the process of gifting shares are same as to an resident account.
Charges mentioned are “₹25 or 0.03% per stock, + 18% GST whichever is higher, is applicable.” The 0.03% per stock is on the avg. buying price or on the current market price?
@Quicko – Please help on above queries.
This are applicable on transfer value, so CMP * Quantity.
I was also looking into this. I found this article which suggests this is possible but requires RBI approval. I’m not sure if this rule is for Non-PIS accounts or PIS accounts.