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Reader's corner: How to divide jointly-held shares at the time of divorce?

It would be best for both of you if you can complete the distribution of assets amongst yourselves amicably, says financial planner Kartik Jhaveri

Kartik Jhaveri  |  New Delhi 

My wife and I have a few equity shares in various companies. They are in demat form with a private-sector bank.

My wife's name comes first, and mines comes second. According to the proposed consent terms in the divorce agreement, we have decided to divide the holdings with each of us getting 50 per cent of the shares held in each company through a gift deed from my wife. Should the gift deed be executed and the shares transferred in my name before the filing of our divorce petition in the family court so that it is not taxable in my hands, or can it be done even after the filing but ...

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First Published: Wed, December 04 2019. 22:03 IST
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