Shares transferred from son to father are taxable?

Income Tax Act 1961 Income from Capital Gains
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1

Hi Team,

Greetings!!

I want to know if shares transferred from son to father are taxable?
Total amount as on date of selling: 16L
Total purchase price of shares: 5L

The father, while filing taxes, where should he report this amount.

2

It is not taxable at the time of transfer . However, whenever father will sale the said share , it will be taxable in his hand and Rs. 5 lakhs will be considered the purchase price for calculation of Capital Gain Tax.