Multiple Accounts and Multiple AMCs
If you are one of those who hold multiple demat accounts, only one of which is actively used by you for transactions, then you can reduce the annual maintenance cost charged by brokerages. These costs no longer remain the miniscule sum that they hitherto were. Today, annual maintenance costs range from Rs 650 to Rs 1,100 per annum. One usually fails to account for the demat account charges while calculating the overall stock gains. But an Ahmedabad-based senior citizen is now able to save Rs 4,500 a year as he consolidated the holdings of seven demat accounts he held into one. He had to take some pains as the many of these demat accounts were jointly held with different family members. But if you have opened different accounts just to segregate the holdings or gave in to the low-brokerage offers by various firm, then it would be easier for you. So, how do you go about transferring the shares from one demat account to another under various circumstances?
The chequebook-like slips – also called delivery instruction slips – issued while opening a demat account can be put to use for a normal transfer of shares. You will have to fill in the details of the shares to be