Money/Shares transfer within family
4 years ago
I have invested in Stock/Commodity Markets in my son's name and over a period of time a reasonabe profits accrued in his Trading Account. Now my son's age is 25. I want to transfer the entire amount lying in his Bank Account and the Shares/Stocks existing in his name to my name. Amongst Will or Gift Deed, what is the best method to transfer to my name. The transfer should be irrevocable ie, my Son should not have any legal right over the money & Shares, which will be transferred to my name. Please suggest.
A.Dear Sir,
Please consult any chartered accountant.
Please consult any chartered accountant.
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Rameshwar Dadhe
Responded 4 years ago
A.If your son ready to do it then don't warry. If against then you don't have any such right.
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