I gifted stocks worth 10 lacs from my zerodha account to my wife’s zerodha account. When I am adding my capital gains in Quicko using “import investment” feature under capital gains - these gifted stocks are populated as normal share transaction with realized capital gains. How do I report them as gifted shares. This is shown in AIS as “Off market debit transactions
SFT-17-LES(OD)”
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Hi,
As you have gifted the shares, the transfer should not be considered a sale. In this case, you can remove the settlements manually and proceed with your ITR Filing.
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Thank you. One more thing please - After deleting these transactions manually, Do I need to mention them anywhere in exempt income, donation field or any other place to match it with AIS data? Or it is fine to only remove the gift transactions?
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Hey,
You, as the sender of the gift don’t have to report it in the ITR. However, your wife can report this amount under Exempt Income while filing the ITR.