thanks @zoomtrader for taking time and checking it.
Hope Z folks note down the issue and resolve it soon
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Hi @manoj_reddy
We’re checking the ticket you raised, apologies for the trouble. Generally, Zerodha handles bonuses as in your second example: when shares are transferred to your secondary demat and then the bonus is received, the breakdown considers the ex-date of the bonus issue. However, in cases where bonus shares are received in the primary demat and then transferred to the secondary, the breakdown may reflect the original purchase date. We’re reworking our internal logic to address this.
Our team will call you to discuss the details of the concerns raised by you.
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Hi @zoomtrader
The performance curve will start handling transfers done to secondary demat accounts in the coming weeks. It’s on our list of a couple of fixes tied to the performance curve. We’ll keep you updated.
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Seems transferring shares back from secondary to primary is messing up the purchase date of the trades. I transferred some back from secondary to primary, and older ones purchased long back are now having dates of transfer and random other dates. Also the price of purchase is bugged now.
this feature is very bugged and should not have been rolled out. really disappointed in zerodha. Literally thinking of finding a new broker now. Quality is going downhill.
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Transfers is broken in Zerodha in gifting process too. Seems like same process is followed here of taking transfer date as buy date.
No accountability, rolling out half baked features.
I am personally stunned to see how this was pushed through QA. Customers really stay for a good product and service. If this kind continues then demat accounts will start closing. It is natural for people to move on when service and product quality drops. Might be delayed but happens. A normal QA test would have shown these issues before the updates were rolled out. Feels like it was pushed out in a rush to meet deadlines, and have AMC from secondary demat start coming in.
I might as well close the secondary demat in zerodha and open with another broker which I can just decide not to trade on. At least these kinds of issues would not happen there.
I expected this kind of updates from other brokers because their platforms have other bugs too, but not Z.
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Hi @sandeep_cs
This looks like a CDSL error. We see that transfers are going through without any issues. Can you let us know if this is still happening? If yes, we can escalate the issue.
Hi @zoomtrader
We see you have raised a ticket with us. While the transfers are going fine for our users, we’ll check what has gone wrong in your case and arrive at the root cause. We’ll definitely post updates on the ticket.
Hi @tallerballer
We’ve not made any changes to our gifting module. The buy average and date of acquisition, while gifting, is the closing price and transfer date respectively as mentioned in our support article.
It’s broken from the start, not anything you’ve changed recently.
When gifting a stock to a family person, the buy price is same and it’s tax free
What you guys do is record it as a sale on the gifter (making them pay unnecessary tax and not even informing them).
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Yeah, I’m facing the same issue. When I transferred stocks from Zerodha to Groww (before the secondary option was introduced), they mentioned it would be shown as a sale. I’m not sure what will happen now when we migrate from the primary to the secondary account.
If the gifting or transfer process (when treated as a sale) has any tax implications, then the same issue could affect minor accounts as well, since we have to buy the shares in our own account and then gift them to the minor child.
Hello @Ruchi_Porwal ,
Transfer done today without any error . Thanks for helping.
Hope there won’t be any issue in price and other details updated in the secondary demat .
Now Price Discrepancy issue come again
Hi @sandeep_cs
Once the transfer is complete, it takes 2 working days for the buy average to update. You can however DM us your user ID to have this checked further.
No Issues , I will wait for two days . Since transfer will be regular process so we will see how it works…
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@Ruchi_Porwal @TheGouda I am having joint demat account in Zerodha not any individual demat account can I open secondary demat account online ??
A monthly/ quarterly/ annual report on holdings transferred to secondary demat with the transfer transaction details and costs would be nice to have.
Hey, there is a Monthly Demat Transaction with Holding Statement that is sent out over email every month with details of securties moved in/out of the primary demat. We’ll look into having additional details related to secondary demat transactions.
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Umm why are transfers to secondary demat showing in Tax P&L statement? That is very incorrect. I am seeing all transfers to secondary demat in the P&L statement and the difference as realised P/L. If these are reported to ITR, that botches the reportings in AIS hugely. Are they getting reported for ITR, and being treated as sale?