In the history section of Gift.
We see there is status for each transfer.
Kindly update the z-connect thread with meaning of each different status message. So that individuals can know & understand the current status of Gift.
May be workflow of change in status can be updated so that people don’t keep asking trival questions on process.
Typically how many days it takes to update P&L?
It is been 2 working days it is not updated yet…Status says Stocks Transferred.
@ShubhS9 @TheGouda @siva
Any update on this ?.. It is more than 7 working days still P&L is not updated.
Any timeline for the update ?
Kindly update the z-connect thread with meaning of each different status message. So that individuals can know & understand the current status of Gift.
Will get it done, can you give ticket number?
#20210327153709 please
We’re getting this checked. You’ll have an update on the ticket.
No Update yet. Please advice.
@ShubhS9 After the entire process of gifting is complete, how long does it take to get the credit in the recipient’s account?
Once you’ve completed all the process, the holdings will show up in the recipient’s account from the next day of the transfer. Explained here.
Would it happen during the weekend also or only on trading days?
Thanks
@nithin @Bhuvan . I wanted to gift SBGJUNE29-G but not displaying in gift list please help… Its Urgent!!
We’ve added this, you can gift it now.
I have gifted 27 stocks to my wife account .
But in the p&L statement it is showing as if I have sold it .
does this means I sold ? kindly reply becoz it will have serious tax implications !!!
We consider it sold only for P&L purposes. If you have gifted to your wife there is no tax implications on this.
@nithin Thanks for kind reply …
even i read it …
But one / two transactions it is fine i can write it somewhere … I am planning to do multiple gift transactions so it becomes difficult to remember all the transaction buying price .
( as I am already in 30% tax bracket I am planning to move my entire stocks to my wifes account )
what do you suggest ?
shall I use CDSL easiest to transfer ?
We are working on showing all gift transactions on the taxation P&L on a separate page. @Nakul can update here once it is ready.
But yeah, if you are transferring this for some tax planning purposes, maybe send across a DIS slip to our office (we don’t support easiest).
How to transfer shares from a Zerodha demat account to another demat account offline?.
Hi Nithin,
Sender buys share at X rupees. On the gifting day the share price is X+Y. The receiver of the gift receives the gift at X rupees or X+Y rupees ?
If it is X+Y(gifting day closing price), then what about the profit of Y rupees that sender would have got if it was actually sold?
There are different ways to account for this. For P&L purposes, we consider at X+Y the stock was sold, and X+Y is the acquisition price for the person who received the gift.
The other way to do it is that the person receiving the gift says that the acquisition price is X and whenever the stock is sold pays taxes on selling price - X. When you gift within your immediate family, the gift is non-taxable event.
Father has X script at 126 Buy average. On the day of gifting the share to son price is 156. So now if the sons buy average after the gift is received is 156 then where is the profit of share from 126 to 156 ? Will it be added to the funds of Father ?
The fathers P&L will show buy 126 and sell 156 (gifted trade). So the profit will show up in fathers account.
But like I said earlier, this is for our P&L purpose. For taxation purpose you can show acquisition price as 126 if the gift is from father. Whenever the son sells, tax can be paid by the son based on acquisition price as 126.
