cpc

Long term tax

This query is : Resolved 
 


Querist : Anonymous (Querist)
01 August 2019

If I am holding demat accounts in the following combinations A/B/C and A/B and A, and hold long terms shares in A/B and A demat accounts.

Can I do a off-market transfer from A/B and A into A/B/C ?. and close the A/B and A demat accounts

Would I get LTGC benefit if I sell them after transferring in 6 months time ?.


Sb Karma (Expert)
27 November 2019

Yes you can transfer demat accounts from one to another.
Generally cdsl and nsdl are demate provider so you can transfer from one to another(*but holder name should be same) otherwise physical format need to be done

Sb Karma (Expert)
27 November 2019

And sorry to say that no LTCG benefit for 6 Month time-frame.
For LTCG benefit 1 year holding need to be fulfilled

N.J.S.Rajkumar alias narasimha (Expert)
28 November 2019

Dear Sb Karma -- Please Refer your First Post please. From March 31st 2019 As per Sebi Orders all the shares should be compulsorily in Demat and Physical Shares would be technically illiquid please. This is for your kind information

Sb Karma (Expert)
28 November 2019

Sir N.J.S.Rajkumar Thanks to knock me again..... I know about SEBI ORDER as per from finance background.......I just wanted to say him that if his Demat A/C is like in any company(like ABC) then he can transfer it from ABC to XYZ as per his comfort.
And yes physical share need to be liquidized, for this one just need to fill-up the form from sebi and submit to CDSL/NSDL as per need.




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