KJS (NA) 22 December 2020
A friend would like to have the following answered:
>>>>>> I wish to gift shares to my parent (retired with no pension) to avail the dividend as income. I have a few questions related to it.
1. Will a Gift Deed need to be made? Will it need to be registered?
2. Will my parent be taxed?
3. Can my parent gift or will back the shares to me at a later date? Can a HUF structure be helpful in this matter?
Ramaraju G 22 December 2020
1. for future purpose if any income tax issues arise in future to defend well better to have a deed.
2. not taxed in your parents as it is a gift to close relative. and dividend income will be taxable in your parents hands.
3. I think yes but its not fair to taken back a gift from your parents😁😁
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