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1. Radhe Sham Garg   I Like It. |Report Abuse|  Link|Sep 3, 2022 12:05:23 PMReply
Sir, I want clarification on following issue:
I am having two demat accounts as I have two sons & to avoid any trouble after my death,each can get shares transmitted as per nominee fixed by me. To keep equal amount of shares in each demat account, I need to transfer shares in OFF MARKET mode from one to other demat account.
Kindly clarify my stand vis a vis incometax rules on above off market transfers.
1.1. Nikunj Stock Brokers Ltd   I Like It. |Report Abuse|  Link|Sep 21, 2022 3:19:41 PM
Now there is no need to keep two demat account just for nomination purpose as now three nominnes are allowed in one demat account. so you can close one demat account and transfer all the shares in one demat account and nominate 3 persons : your wife, your two sons with equal share or two nominee (your two sons). This will be hassel free.