Average price for Shares Gifted

Zerodha
1

Hi Team

I have gifted some shares from my Kite account to my father’s kite account. In my father’s account the shares were appearing as ‘Discrepancy’ due to the purchase price not available for them. He did not update the buy price for a day or two after which console has automatically picked the LTP on the date of gifting as the buy price. Currently he is not able to edit the buy average for the stocks received. Is there a way to edit this to better track the P&L? Will have to maintain separate records just for Income Tax proposes if this is the case.

However for stocks transferred over CDSL Easiest from different broker, the same continues to reflect as a ‘Discrepancy’ and we are able to update the buy average even after a week.

Thanks,
Adarsh

2

Yes you have to, I just confirmed with support. I thought using Zerodha’s own gifting feature would make it easier but it increased my workload 5x for tax purposes. Thanks Zerodha!