If you are an investor or trader that you should know the procedure and charges of transferring shares from Upstox to angel one.
The fact is, trading through the Demat account is like a making transaction through a bank account. The only difference is you are transferring shares from one Demat account to another instead of a money transaction.
Generally, people transfer their shares from Upstox to Angel One for the following reason which you should know.
- If you have multiple Demat accounts and you want to consolidate your all holdings on one Demat account to centralize your investment.
- It could be the total opposite if someone wants to separate his holding for future plans such as marriage and child education.
- If someone doesn’t like the existing broker services that’s why you want to switch your current broker.
What is the procedure for transferring shares from Upstox to angel one?
First, we should know the procedure for transferring the shares based on the two depot series in India. Which are NSDL and CDSL.
- Intra – Dipotiseries transfer: if the transfer is within the depository itself that time it is called Intra Depository transfer.
- Inter-depository transfer: this is the valid way to transfer the shares from one depository to another.
You can transfer your all shares either online or offline.
To transfer shares from Upstox to Angel Broking, you will need to follow these steps:
- Login to your Upstox account and go to the “Portfolio” section.
- Select the shares that you want to transfer and click on the “Transfer” button.
- Enter the details of the recipient broker, which in this case is Angel Broking. You will need to provide the name, DP ID, and client ID of the recipient.
- Review the transfer details and confirm the transaction.
- The shares will be transferred to the recipient broker, and the transaction can take up to 3 business days to complete.
Tax implications when transferring shares from Upstox to angel one.
You can transfer your holdings to the different Demat accounts of the same individual person or a different person. If the transfer happens to the same person at that time there will be no additional tax liability. While transferring your shares the capital gain will be counted from the date of purchase to the transfer date. If you transfer your shares to different accounts that time you have to mention all the personal names and reasons for the transfer. There will be no extra tax liability for the transfer of shares via gift deed but the limit doesn’t exceed.
When the transferred shares will be credited to my Demat account?
Generally, when you transfer your shares from Upstox to angel one the broker reviews your application and transfers your shares. It takes 2 to 3 days to credit your Demat account. If you did not receive your share after 3 to 5 days then, you can raise a ticket at firstname.lastname@example.org Or call customer care and take clarification on it.
FAQ (Frequently asked questions)
What happens when we transfer shares from one Demat account to another?
It is possible to transfer your shares from one Demat account to another and your ownership will remain the same, which means there is no additional tax liability or no transaction fees.
2) Is a transfer of shares from one Demat account to another taxable?
When you transfer your shares from Upstox to angel one that time ownership will remain the same in that case there are no transaction fees as well as no additional tax liability.
3) What are the rules for the transfer of shares?
You should obtain a shares transfer deed in the prescribed format, which is necessary for transferring your shares from one Demat to another.
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