I want to transfer/ Gift some shares of a company to another person who is also having zerodha account.
My question is, if I have taken shares of a company at a price of ₹ 100 and its current price is ₹ 120, and if I want to transfer or gift these shares to another person in Zerodha account, then he At what price will the shares of that company reach the other person’s account? At the price of ₹100 or at the current price which is ₹120? And during this period, does Zerodha take any charge for the transfer of shares, please explain in detail?
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 gifted the shares comes under the definition of family as per the Income tax act, a different view can be taken on the acquisition price.
Do read this thread for more information on how tax-related interpretation can be done in case of gift given by a family member
Please check our support article out for info on charges
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