Hello Everyone,
I need your small help, i have narrated the scenario below & please guide me in the same regard.
My Dad hold a Dmat Account with SHCIL in which they have 1500+ shares of PSU bank (only). Actually, those shares was transfered by bank to respective account in small amount every year (as loyalty) before they retired from the service. These Shares are on hold since long time & My dad have basic Dmat account (& Not Trading Ac). As per the brocker, there are two ways to trade these securieties:
1. Convert Dmat to Trading Account & sell the securities.
2. Transfer of shares through DIS to My Trading Account (i.e. SBI Cap securities) and then sell it.
My Dad was retired from the service, 5 years back & he is Senior Citizen now. He dosen't need a Demat account, as he will not interested in share trading.
I am salaried person & holding Terading account with SBI. Our ultimate aim is to Sell-out all the Shares hold in Dad's account at Min charges.
# My query is- Which is the Best way from above to sell all the securieties?? How Income Tax Implies can in both the cases?? Is there any other Ways??
Please Suggest & Guide..!!
CAclubindia
