I had a resident Demat account with an NSDL broker. After I became an NRI, I closed that resident account and moved all my shares to a new NRO Demat account with the same broker. Now I’m unable to sell those shares because the broker/bank needs to calculate long-term capital gains (LTCG). They’re asking me to fill in the purchase date and purchase price, but I don’t remember the exact details. Can I just enter an approximate date from before the old account was closed?
Adding an approximate purchase date based on when the old account was closed wouldn’t be accurate. Your holdings may have been bought on multiple dates, and entering an incorrect date will lead the broker/bank to compute capital gains and deduct TDS based on wrong information.
Additionally, if any of your securities were purchased before 31/01/2018, entering a later date may cause you to lose the grandfathering benefit available for LTCG.
The best approach is to request your previous broker to share the trade book or contract notes from your old resident account so you can identify the correct purchase dates and prices.
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