Comment on Taxation for Investors

Parveen Kumar Kataria commented on 20 Nov 2016, 11:27 PM

I have a question to ask.
I bought 100 shares of one company in year 1988 around sometime.
These are in name of my sister and myself(brother).
At that time i was having many folios in the same company due to Gift purpose in AGMs.
All the shares in other folios sold out in mean time.
This particular folio left unsold and shares are in physical forms till date.
The company grown up like anything and issued many bonus issues and splitting of shares from Rs 10 to Rs 1.
As a result, the holding increased by many folds and today its increased to 8000 shares from 100 shares in 1988.
The first name in Share certificate is of my sister, who not an income tax payee, whereas myself is salaried one and income tax payee.
My questions in this regard are:
1. Since I invested the money in origin for 100 shares, but my name is second in holding pattern, how can i get the shares transferred in my name.
2 I just want to transfer the shares in my name due to taxation issue, as the dividend received during the period is not shown anywhere.
And company is declaring handsome dividend of Rs 6.00 per share last year.
3 I am scared from taxing point of view. Whereas myself is investor and files the ITR 2 since long for showing STCG and LTCG. But due to second holder in subjected holding I am not able to show Dividend Income in my ITR under Tax free income.
I humbly seek your guidance.
I have an account with Zerodha in my wife’s name.

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