Yes, in the case of transfer of shares, there may be tax liabilities depending on the nature of the transfer and the applicable tax laws. If the shares are held for a period of less than 12 months, the transfer may attract short-term capital gains tax, which is calculated based on the difference between the sale price and the cost of acquisition. If the shares are held for more than 12 months, long-term capital gains tax may apply, which is calculated at a lower rate. The tax liability may vary depending on the type of share and the residency status of the buyer and the seller.
