Recently I have read the article by Mr.Maulik Vyas in the news paper, “The Economic Times”. The article was about “Affluent Gujarati families are now gifting Shares, Bonds & Mutual Fund Units to their daughters as a Wedding Gifts.”
According to the article, the Gujarati families are now diverted towards Bluechip company shares as a gift to their daughters as a wedding gift.
According to Maulik Vyas, At a recent wedding in the city, an indulgent father decided to break with tradition. Instead of gold and diamonds, he gifted his daughter 100 shares of Reliance Industries. Now that is Rs. 2,22,000 according to the today’s market price of Reliance Industries shares (Rs.2200/share).
Bhogilal Vanji, a Bhuj-based merchant , gifted 200 shares of Wipro, among other things, to his daughter on her wedding day. According to him, “When I started shopping for the wedding, gold prices were trading at record highs. The markets were still lukewarm and a lot of blue-chip stocks were available at throwaway prices. It seemed like a great idea to gift my daughter shares of some good companies which would stand her in good stead when the markets looked up.”
Not only this but the following financial products are also now considered as a Best Wedding Gifts.
- Bonds
- Mutual Funds
- Capital Protection Funds
- Gold ETFs
How much Tax will this attract?
Rs.50,000 received by an individual or a family (HUF) as a gift is exempt from gift tax. This also includes shares handed out as gifts.
My View Point -
Honestly speaking, I love the idea of giving shares (The most appreciating Asset in the long term) as a wedding gift. If a father gives 100 shares of reliance industries today to her daughter that is worth of Rs.2,00,000 today can become worth of crores after 20 years or so at a time of the college education of daughter's children.
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