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    Transferred shares of HUF

    Posted By : Damini / Published on : 03-Sep-2020 07:36 AM / View : 621 / Comment : 0

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    Hi



    One of my clients is holding shares in a private company as an individual and in capacity of HUF (Members of HUF are Karta and his wife and two minor children.).



    Now he wants to transfer his shares through a gift to his father, who is also a shareholder of the said private company.



    So as of now, he has transferred his shares to his father as a gift as an individual, but now my question is:



    1) if he will be transferred shares of HUF to his father then it's taxable or not?

    2) if Yes, then who will be liable to tax donor or Donee?

    3) if we don't want to pay tax then how can he transfer his shares of HUF to his father?

    4) if Transfer of shares done through Son's HUF to Fater's HUF then it's Taxable?
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