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| Discuss Can any one have more then one demat accounts? at the Brokers & Demat Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Dear Sirs, Can any one have more then one demat accounts?....what is Tax method ... |
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#3
3rd October 2005, 08:26 AM
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Re: Can any one have more then one demat accounts?
yes u can have more than one demat accounts with same broker or any other broker.for the tax purpose it will be more helpful.if u have phyisical form of share certificates u can identify the shares whether u r holding it more than a year or less.for example u r wishing to hold 1000 shares of "x" for more than 1 year period for the investment and getting the capital gain tax benifit.it has a good growth story. so after 5 months u want to buy another 500 of the same company for 2 month period.if u r holding the whole shares in the same demat account, while selling the First Come First Go principle will be applied for the tax purpose.so it will be cosidered that u have sold the 500 of initial investment of 1000 for the investment period of 7 months and u will get the short term capital gain tax benifit. u have to hold another 10 months to get the whole tax benifit for the part of the shares u hold.
so u can have more than one demat account for the long term and short trem view 
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Can any one have more then one demat accounts?
