I have an old account with another broker for long-term investments, and use Zerodha for my trading. They’re separate so that there are no tax issues (FIFO).
I want to close that old account and want to shift my long-term portfolio to another broker with no delivery brokerage (like Zerodha).
Can this be done with Zerodha? (there should be no FIFO tax issues)
You can transfer shares to Zerodha demat account. After transferring, your old and actively traded shares must be combined and accounted for FIFO upon selling in Zerodha.
We’re working on enabling our users to open a secondary demat in the coming weeks.
What the status on this?
We’ve hit some roadblocks, which are being resolved; we’ll update once it is live, hopefully by this month’s end.
Just open a second demat account on Dhan. Don’t depend on broker features, you never know when it’ll be enabled or disabled. Having it seprate means control is in your hands rather than broker’s