Demat account: Keeping shares in a single demat account makes it easy for investors to take stock of investments and returns. Transferring shares from one demat account to another is very easy.
Demat account: Demat account is very much discussed these days. The reason for the discussion is Zee Business’s biggest operation Demat Daaka. This Zee Business initiative has uncovered the layers in which hackers are hacking your demat account and exchanging penny stocks for good stocks. Also deals are being cut. In such a situation, if you have two demat accounts and there is a suspicious transaction in one of your accounts, then immediately transfer your shares to the other account. At the same time, even if you want to keep the same account, you can close it by transferring the shares to another account.
Transfer shares through offline mode
With depositories like NSDL and CDSL, you can do the process of share transfer in offline mode. But this will require a Delivery Instruction Slip (DIS). In this form, the ISIN number of the shares to be transferred, the name of the company and the demat account where they are being transferred and its DP Id have to be entered. This form has to be submitted to the old broker’s office for further processing. After this your shares will be transferred.
How to do online transfer
If you have a demat account with CDSL, you can take advantage of the online facility called ‘Easiest’ platform to transfer shares. For this you just have to register using the official website https://web.cdslindia.com/myeasi/Home/Login link. The demat account to which the shares are to be transferred has to be linked. Once the account is successfully linked, you can transfer securities from the old demat account to the new one after 24 hours.
Keep these things in mind
1. There is no change in ownership due to transfer of
shares.
2. No case of capital gains is made on transfer of shares.
3. Brokers may charge fees for processing transfer requests.
