Transfer to specified family members or gifting to relatives

When gifting equity shares to specified family members like your brother's daughter and sister's daughter, it's important to maintain clear and well-documented records of the relationship and the gifting process. Here's how you can create a record for these relations:

1.  Gift Deed: Prepare a gift deed that outlines the details of the gift, including the equity shares being transferred, their value, and the relationship of the recipients to you. The gift deed should be executed on non-judicial stamp paper as per the stamp duty laws of your state. It should be signed by you and the recipients and attested by witnesses.

2.  Relationship Affidavit: Create an affidavit that specifically details the relationship between you and the recipients. The affidavit should be notarized and signed by you, and it can be used as evidence of the familial relationship.

Consult with a legal professional who specializes in Indian family and Tax Laws. We can guide you on the specific requirements and documentation needed in your state to ensure compliance with the law.