Tax implications of transferring shares across demat accounts

[smallfish]

Hello,

I have two demat accounts:

Account 1: Single name - my name - wife is nominee

Account 2: Joint account - wife's name first, my name second.

If I transfer securities from Account 1 to Account 2, will it mean that I am selling the shares to my wife (even though it is a joint account with my name as second name)? Will I have to pay tax or will she have to?

Thanks

 

[MDK]

In DP there is no either or survivor concept for signing the instruction - hence it implies that both the holders are 50% or whatever of the holding. And as this will become an off market trade - taxation will be accordingly done.