Team,
Please explain me how to gift mutual funds to my daughter’s account. Gifting stocks in zerodha is seamless and smooth. please explain the process for gifting mutual funds since i cant find the gift option in mutual funds, Thanks in advance
Team,
Please explain me how to gift mutual funds to my daughter’s account. Gifting stocks in zerodha is seamless and smooth. please explain the process for gifting mutual funds since i cant find the gift option in mutual funds, Thanks in advance
Yes, you can transfer mutual funds as per the aprroved list of securities link.
It can be transferred through the gift stocks process you can check: How to gift securities?
What are the tax implications ?
The recipient is liable to be taxed for gifts of market value of more than ₹50,000. Income from such gifts should be reported under the head Income from Other Sources in the Income Tax Return, and tax at slab rates should be paid.
Check on this link to understand more on taxation.
Father->daughter transactions are exempt from tax
not finding gift option in mutual funds. only in stocks and etf it is showing. pls guide
its working. thank you so much
Is it the same for father to son gift transactions?
Ofcourse
Even from father-in-law, its exempt
FYI, the list of who all qualifies as a “relative” for this purpose
appears to be defined in Clause 2.vi of Section 56 of the Income Tax Act.