My father has a few hundred shares of SBI which are in physical paper format which he had bought around 20 years back. Please guide me the easiest way to transfer them to my Zerodha account.
I called up Datamatics Financial Services, Mumbai which is the Registrar & Transfer Agent for SBI.
They told me to download and submit the SH4 Form and at first share name transfer has to be done in my name in the physical format. And then the paper shares in my name will be converted to my Demat account.
The process will incur Stamp Duty 0.25% of the market price of the shares.
PAN of both buyer and seller
Original Share certificates
Just wanted to know if there is an alternate process for easy transfer?
What if I open a Demat a/c for my father on Zerodha and then convert the physical shares to his Demat a/c and then transfer from his Demat to my Demat? Will it be easier that way?
Also, what would be the taxation implications for share transfer in my name?