Gifting stocks showing as sell with profit

[Bikash_Sinha]

Hi,

I gifted few stocks last year and when I generate P&L Report, the gifted stocks are showing as sell and profit as well.
Now, because of this it will attract tax.

[Meher_Smaran]

Hi @Bikash_Sinha

We’ve discussed the same in the below thread…please check this thread out

Zerodha share transfer

Hi @AKSHAT_CHOUKSEY For tracking and reporting purposes, the stock’s closing price on the day the stock gets transferred is the exit price for the person gifting the stock, and the same price is used as an entry price for the person receiving the gift. The average price is updated within 3 working days after the stocks are transferred. While filing for income tax, a different view can be taken on the acquisition price. The cost will be shown as 120 for other purpose. But, if the person who gi…