Secret image sharing deals with splitting confidential images into several shares and the original image can be reconstructed from the qualified subset of the shares. Secret sharing schemes are used in transmission and storage of private medical images and military secrets. Increased confidentiality and availability are the major achievements. We propose an efficient (2, 2) scheme and (2, 3) scheme for secret image sharing. The scheme is lossless and also the share size is same as the secret size. The sharing and revealing phase uses simple modular arithmetic which can be very easily implemented. Experimental results on Binary and Gray scale images show that the proposed scheme is secure and efficient.