STT requirement on sale of shares

[Umang Kothari]

Can a husband sell shares for cash to his wife, i.e. no brokerage, no STT is to be charged on it.

AI Summary

Husband's Share Sale to Wife Can Avoid Brokerage Fees and STT Through Off-Market Deal A query was raised regarding the sale of shares by a husband to his wife for cash, specifically questioning whether such a transaction could occur without incurring brokerage fees or Securities Transaction Tax (STT). The response clarified that this transaction is permissible as an off-market deal, meaning it can be conducted privately without the involvement of a stock exchange, thus avoiding the associated charges.