How to Transfer Shares From Another Demat Account to HDFC Securities?

You can start a share transfer from one Demat Account to another in one of two ways. The first one is a Online process, and the second one is a Manual Method.

Steps to Transfer Shares from Another demat account to HDFC Securities

How do I Transfer Shares From Another Demat Account to HDFC Securities

Online Transfer Of Shares

The electronic access to securities information and execution of the secured transaction (EASIEST) online transfer mechanism is provided by the CDSL depository business. You may quickly transfer shares using this system from one demat Account to another online. To transfer shares online, follow the instructions given below:

Step 1: Access the CDSL website.

Step 2. Select “Register Online” 

Step 3. Select the “EASIEST” option.

Step 4. Complete the required fields. 

Step 5. Send your Depository Participant a copy of the information.

The Central Depository will get a copy from the Depository Participant. After they have checked the information you provided, you will receive the login information. You may log in using these credentials to view your broker list. Your shares can now be transferred.

While transferring shares from one demat account to the other, remember that there won’t be any tax obligations if the shares are transferred to the same individual. If you transfer shares to someone else, you must explain the reason. However, if the transfers are made through a gift deed and do not exceed a certain amount, you will not have to pay any tax. Moreover, you will be subject to capital gain tax if you transfer the shares you initially got via a demat transfer.

Manual Transfer Of Shares

Step 1: Obtain DIS Slip

You must first obtain a Delivery Instruction Slip (DIS). This slip will provide information about the transfer of shares. 

Step 2: Fill the DIS Slip

To effectively transfer the shares, you must complete the necessary information. You will have to enter the following information:

• Beneficiary broker ID: It is a 16-digit number that serves as the broker’s special identification during the transfer. You must list both your current and new brokers’ IDs on the slip.
• International Securities Identification Number: Your account’s individual shares are identified by this number. This number and the number of shares should be entered with care.
• Mode of Transfer: Off-market is the only option if you wish to do an intra-depository transfer. Choose the inter-depository option in all other cases.

Step 3: Sign and Submit the DIS Slip

Sign the DIS slip and submit it to the current broker. You will be charged by the broker for the share transfer. These fees may differ from one broker to another.

After a successful transfer, you will receive your shares in your HDFC Securities demat account. You shall get a confirmation mail and message regarding the same.