Can a son gift mutual fund units to father

Can a son gift its mutual fund units to his father instead of redemption on maturity? If yes, what is the procedure. Please mention the circular No or order of SEBI or any other valid authority?

Mar 23, 2017 by vinay vashisht, chandigarh  |   Financial Planning

Mutual Funds units are not transferable. In order to the son gift mutual funds units to his, therefore, is not possible. However, he can redeem the mutual fund units and gift the proceeds to his father without attracting any taxes for both.

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