Sir, I have Join demat account & I am 2nd joint holder. Now I want my seperate Demat account and I wanted distribute existing shares equally and transfer to separate account. Can it possible ? If yes then can I get benifit of Capital gain tax ?
For transfer of shares from joint demat account to individual demat a/c what kind of expenses need to pay ?
Capital gains depend upon the holders of demat account.
The transfer of shares from one demat to another doesnt carry tax provided it is a gift / under the same trading account. In that case, ensure to accompany it with a gift deed.
Transfer Expenses depend upon broker.
Thanks
After transferring the shares from joint demat account to individual demat account, can I sold it ?
Need more information
- What is the relationship between joint holders of Demat Account?
- Who has purchased the shares?
- Does shares were purchased from joint saving bank account or from individual account?
- Capital gain tax is applicable on sale of shares.
- You may take phone consultation for detailed discussion
Yes, the shares can be sold after you transfer to individual account.