Can I transfer my shares to my son’s Demat account? 60-year-old Pune resident.

Ans: Yes.. one needs to have a demat account to sell/transfer the shares.

Ans: contact a well known stock broker who has a branch office in your area. Which area and city are you from?

Ans: Demat account transfer can be done off market. Please seek documents from your broker for the same.

Kindly state the reason as gift to relative while transferring. No taxation on gift.

Please take your CAs advice before moving ahead.

Ans: You cannot add a second holder to an existing demat account. Regulatory guidelines do not allow converting a single-holder demat account into a joint account.

However, you can open a new joint demat account with your son as a co-holder. A joint demat account allows multiple holders and can be an ideal option for family members wanting to invest together.

Options for Joint Investment
Opening a New Joint Demat Account:
You can open a new demat account where both you and your son will be joint holders.

Both holders can access and manage the account.
This is useful if you want to manage investments together.
Existing Account:
Since your current demat account is in your name only, you can:

Keep using it for your investments.
Add your son as a nominee to this account.
Alternatively, you can give your son Power of Attorney (POA) to manage the account on your behalf.

Joint demat accounts can be opened with two or more holders, but you cannot convert an existing single-holder account.
Opening a new joint account with your son is the best solution for combined investments.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in