Hi,
I’m looking to transfer some shares from Zerodha to Dhan demat account. The entire transfer process is explained well on Zerodha support page and since its a CDSL to CDSL transfer, it should be easy. However I did not find any FAQ on Dhan about share transfers and how to update Buy averages and other details. Hoping to get some clarification of the process.
Hi @DrAesthetic,
Once you have transferred the shares to Dhan, you will get an option to update your cost price as well as date of purchase. While we have a detailed post on CDSL to CDSL based transfer here, we will shortly update the article with the process to update the buy average.
However, trust us, the process is really simple and intuitive once the shares are credited to Dhan account. You can always reach out to help@dhan.co as well.
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Dear sir
I have shares in zerodha demat account. I have demat account with zerodha & dhan also.Both the demat account is in my name. I am the owner of both accounts. I want to transfer shares from zerodha to dhan demat account.i know the procedure to transfer.
1.But there will be any taxes i had to pay to the government ?
2.Will it comes under gift of shares ?
3.I had purchased these shares before 1 year also & recently also. Will there be any STCG / LTCG tax ?
Please explain elaborately
Hi Narine
- Taxes are applicable when you sell the shares, in this case you are moving from one demat account to another.
- Nope, this is not gifting. It is moving from one demat to another one.
- Nope, not for transfer. But when you sell the shares - there will be taxation depending on the holding time - if < or > 1 year.
Additionally, before transferring ensure you know the avg buy price of your shares (collectively) as this is required for you to add on Dhan post transfer.
I would suggest transfer only shares that are purchased collectively before 1 year only or after 1 year, because you have to add a single avg buy price to all shares.
Hope this helps.