E- GIFTING A VALUABLE ASSET IN A SINGLE CLICK
From tiny tots to old people, gifts have always excited humans which is why choosing a right and meaningful gift always requires time and effort. Gifts have a significant value as the giver will be able to resonate the emotional feelings of the receiver. Though the giver is satisfied with a smile on the receiver’s face, the receiver gets fretted about the value it possesses in the long term. The contemporaries of India as in the developed economies like UK, U.S.A are some of the countries which spend enormous amounts on gifting considering that gifts tend to strengthen relationships between people. It is disapproved by science that gifts are meant to be a “surprise”, yet to ask an individual on what they want to be gifted is a taboo. Gifts should always be what the receiver needs and is unique to an individual. When gifts are desired so much, have we ever wondered if we could gift ownership of an enterprise or an asset that is futuristic and fetch returns once held for a period of time? In an unprecedented pandemic where socializing is virtual, can shares/bonds/mutual funds be gifted electronically in a single click? Zerodha broking limited, an indian financial services company and also India’s biggest stock broking firm has come up with a pensive way of gifting i.e online gifting shares through seamless process. We are in a thought-provoking juncture wherein this initiative by Zerodha cultivates the trading habits in individuals. In a country where investing in share markets is trending and considered the nation's future, does this step by Zerodha help the economy financially literate and an individual to be financially healthy? This study aims to build awareness amongst the common public about online gifting of shares. It also highlights the pros and cons involved in online gifting of shares, bonds or mutual funds and also a comparison of online and offline gifting with a brief on its tax implications.
Gifting of shares, Zerodha, Online, Financial Literacy