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Taxation on Transfer of shares to another Demat Account

Tax queries 2728 views 3 replies

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??
 

Replies (3)
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
You are not doing anything except changing from one pocket to another pocket (demat Account).

Status of shares doesn't change Mr Amit

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. 


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