Can NRI gift shares to resident Indian?

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An NRI can gift shares to a resident Indian freely. The shares acquired through the PIS route cannot be transferred by way of a gift without prior approval from RBI unless they are being transferred to a relative as defined under Section 6 of Companies Act.

From the taxability perspective, the recipient of the shares will be taxed in India if the value of shares exceeds Rs 50,000 and the recipient does not qualify as a relative. There is no tax levied on the NRI gifting the shares.


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