Taxation on Transfer of shares to another Demat Account

2828 views
User Avatar

fdf
59 Points Posted on 25 February 2020

What will be the Tax implication when i transfer Shares from my old demat a/c to a new demat a/c with another broker.

Both Old and new demat a/c's have the same name and held singly.

The Shares in the Old demat a/c are held for more than 10 years, will i loose the long term capital gains benefit on transferring these shares to New Demat A/C??
 

0 Reply Share Follow
On 25 February 2020 at 19:30 Report
Replies (3)
Quick Summary
Transferring shares from an old to a new demat account held in the same name does not typically trigger a taxable event. The ownership of the shares remains unchanged, merely moving from one 'pocket' to another. Therefore, you should not lose your long-term capital gains benefits simply by transferring shares between your own demat accounts with different brokers.

User Avatar

CFO- at NHTF
58280 Points Posted on 25 February 2020
To attract capital gain there must be transfer and transferee and ownership should change.

Mere transferring from one demat account to another demat account doesn't amount to transfer.

It doesn't not loose the capital asset status
Reply
On 25 February 2020 at 19:59
User Avatar

17269 Points Posted on 25 February 2020
You are not doing anything except changing from one pocket to another pocket (demat Account).

Status of shares doesn't change Mr Amit
Reply
On 25 February 2020 at 23:57
User Avatar

CHARTERED ACCOUNTANT
22 Points Posted on 17 July 2022

Even tranfer to own dmat is reflecting in AIS, if we will not reflect in ITR, then IT department will surely send notice (which is ideally wrong) then unnecessarily litigation would increase. 

Reply
On 17 July 2022 at 22:53

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidence requested for a Finance Professional with
  2. Expert Opinion Required – Form 140 Gross Amo
  3. WRONG TAX DEMAND - formal responses , rectificatio
  4. Foreign remittance
  5. Affordable Residential Flats in Gurgaon
  6. Manufacturing
  7. TAN REGISTRATION ON E-FILLING SITE
  8. Form 10-IEA – Continuing Old Regime
  9. Income tax act 2026
  10. Belated Return where Form 10IEA filed this year to

More recent discussions | Post

Related Topics :

Loading