Hi, I have purchased some GSec in my Zerodha account, I need to transfer them to my Mothers account on Zerodha How can I do it?
Sorry this wont work cause the list of shares mentioned doesnt contain gsecs…
You should be able to gift GSECs starting next week. We’re adding more scrips to the Gifting approved list.
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Would there also be SGB?
And this would be treated as gift to non related person the current implementation doesnt work i guess in terms of exempted gift income the acquisition price etc…
Also i feel the price is too steep
Does this have charges? apart from any tax liable
Yes.
The charges to transfer shares in an off-market transaction are 0.03% of the transfer value or â‚ą25 per ISIN, whichever is higher, + 18% GST.
Mentioned in the articles shared previously.
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It feels like this drop down has some big implications, can anyone help me to select the right thing… I am just transferring my gsec holding to my mother, i understand that there are no tax implications for it, so should i choose GIFT or something else? as when we choose other option it says we may have to pay stampduty charges etc… whats the different in both the options i assume they are getting transfered to the person choosen right?
and also to confirm once this off market transfer is completed i assume all the interest payment from GSec will be done to my mothers account right? or is it just the holdings get transfered?
This is good news!!
If you want to transfer G-sec to your mother as a gift, you can choose “Gift” / “Transfer between Specified family member” option and there is no stamp duty for off-market transfer of Govt. Securities (refer to PDF / 5th point on article).
Interest payment from G-sec will be credited to mother’s account if the units are in her demat account as of interest record date.
For any other securities, only “Gift” and “Self-transfer” do not incur stamp duty.
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Does anyone know how much time it takes from DP side to approve this i made a transaction today but no email either from CDSl or Zerodha…
This i read but nothing till now so asked, btw i just received a email for debit from CDSL when is the credit mail or sms supposed to arrive?
I thought it should be instant right?not complaining but asking for what time people faced for this…?
Units should be transferred and reflected on Kite this morning (with discrepancy) if setup request was done before 6 PM yesterday.
If units are not transferred yet, you can raise a ticket on the relevant article and the team will check.
This did happen Thanks, The question is i dont see the charges deducted yet from my(sender) balance… are those reflected on monthly bases ?
Also is this method of OFF-market transfers eligible for SGB as well?
Nice! Please clarify if there is a plan to add MF units, SGB to scrips that can be gifted?
transfer between specified family member.
do not use zerodha gift feature. use cdsl e transfer + chose family transfer and relation
I used CDSL feature cause it was cheaper, but i selected gift from Drop Down instead of Transfer within family members… Asuming there are Zero tax Implications for my case (Child to Mother transfer)…
Did i do a mistake by not choosing family transfer? Any pros or cons of it?
No implications. It will just come in ITR AIS as a gift. You can manually mark it as non taxable in the AIS
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