Hi.
I have little or no knowledge about share market or trading. So need your help.
During the crazy years of 90s my father like everyone else bought several shares. Some in his name, some on my mother's.
But he also bought a considerable amount of shares on his pet name. Now for all these years those share certificates have been left unattended. I want to convert all of them on into one dmat account, preferably mine so that I can look after them. My father has a pan card on his official name but not on his pet name. My mother also has a pan card on her name.
I would be really thankful if you could answer some of my questions.
1) Can he gift me those shares so that it doesn't come under income tax, because practically he is not selling it.
2) How can the shares on his pet name(the one without the pan card) can be converted onto Dmat.
3) Since it has been a long time some of the companies must have been closed or merged/acquired. What to do with those shares.
4) How to check if the company owns some our share of profit and if yes, how to claim it.
Would really appreciate your help.
I have little or no knowledge about share market or trading. So need your help.
During the crazy years of 90s my father like everyone else bought several shares. Some in his name, some on my mother's.
But he also bought a considerable amount of shares on his pet name. Now for all these years those share certificates have been left unattended. I want to convert all of them on into one dmat account, preferably mine so that I can look after them. My father has a pan card on his official name but not on his pet name. My mother also has a pan card on her name.
I would be really thankful if you could answer some of my questions.
1) Can he gift me those shares so that it doesn't come under income tax, because practically he is not selling it.
2) How can the shares on his pet name(the one without the pan card) can be converted onto Dmat.
3) Since it has been a long time some of the companies must have been closed or merged/acquired. What to do with those shares.
4) How to check if the company owns some our share of profit and if yes, how to claim it.
Would really appreciate your help.