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How Can You Gift Stocks

Read our blog regarding How can you Gift Stocks to your friends and family members or relatives.Nowdays a best gift can be stocks which will have its value and it will be appreciating in value and price.All brokers have their own way to gift stocks, our blog will help you to better understand that how this process works.

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How Can You Gift Stocks

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  1. How Can You Gift Stocks

  2. The process of giving stocks as a gift varies among brokers in India. Here you can understand how can you gift stocks using the Zerodha platform. • • • You should visit console.zerodha.com/gift as a first step In the next step, you need to fill out a form with the recipient's name, email, and mobile number You need to decide which stock, ETF, gold bond you want to gift and which asset is already approved for gifting from the list of stocks, ETFs, and gold bonds. • Within 7 days of receiving the stocks as a gift, you need to hold onto them until the receiver accepts them. The receiver can accept it without any hassle if they have a Zerodha Demat account. Otherwise, they need to open a new account and then accept • After the recipient accepts your gift, you will receive an email or SMS asking you to verify the receiver's identity and confirm the stock transfer using your CDSL TPIN.

  3. • Upon successful completion of the above steps, Off-market gift transactions at CDSL will be initiated by Zerodha, for which you will receive an OTP from CDSL. • The following trading day (if it is a trading day) or the next trading day, you will receive an email and SMS from CDSL at 5 PM where you need to confirm the off-market gift transaction by visiting www.cdslindia.com. Complete the SMS OTP authentication by 8 PM on the same day after adding your PAN or 16-digit Demat account number • After successfully transferring your stocks from your Demat account to the receiver's account, your stocks have been transferred. Holdings will take 24 hours to appear in the receiver account.

  4. How much is the cost charged for gifting stocks? • A standard off-market transfer fee of *25 + 18% GST or 0.03% per stock is charged when sharing stocks. Trading accounts of the sender are debited in this automated process. What are the tax implications of stock gifting? • Stocks gifted had tax implications based on their price. Gifts that are valued over Rs 50,000 may be subject to tax implications for the receiver. • If you gift stocks from your Demat account and sell them at the same time, you may be subject to an exchange auction penalty.

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