Hello sir, Good evening. kindly advise me on the following.
1,.I am having two dmat account with different brokers under the same PAN. now i need to consolidate the one demat account by transferring the shares of A demat account to B dmat account off market.
now the question is 1. This off market transfer will attract the long term capital gain or not ? all shares in both dmat account are for more than one year. Only transfer from one broker to another broker with Sam PAN for consolidation and monitoring purpose.
2. For this off market transfer without payment of STT, In future if I sell these transferred shares what would be capital gain effect. All share are heldfor more than one year. However original purchase is STT paid.
pl guide .
Vinod Gupta
Ans: You can transfer the shares from one demat account to another demat account and can consolidate it into one demat account without selling the shares; it will not attract any capital gain and tax.
If in future you sell the shares, then it will attract the long term capital gain as you have held it for more than a year and the tax will be charge @ 10%.