Transfering physical format shares

K

kiran_mahajan

New Member
#1
#1
my dad has chambal fert shares in physical format. Is there a way he can transfer it to my demat account without opening demat a/c for himself? Please reply
 
R

rkkarnani

Well-Known Member
#2
#2
kiran_mahajan said:
my dad has chambal fert shares in physical format. Is there a way he can transfer it to my demat account without opening demat a/c for himself? Please reply
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You have to first lodge the shares with Physical transfer deed and get the physical shares transferred in your name, and thereafter lodge them in your DP (demat account) to get them in your account.
However do note as the shares will be transferred in your name from your fathers name, the same shall not be exempted from Long Term Capital Gain. If the same are shown as gift to you I think there shall not be any problem regarding taxation.
 
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