Will switching from equity to debt scheme’s of the same fund house have tax implications – Economic Times

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  • Last Updated on 27 October, 2020

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Query: I have two demat accounts. I operate one for transactions done via my stockbroker and another for online trading. If I move shares from one demat account into another, will it invite tax?
 
Rakesh Bhargava Director, Taxmann replies: As you are the owner of both the demat accounts, moving shares from one account to another doesn’t result in change in ownership. So, there shall be no tax implication as ownership of shares remains with you. It has been settled that no one can earn profit or incur loss from a transaction done with himself. 
 
 

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