Guidance for Share Transfer Procedure

[Navin Talati]

Friends.
This is my first step while joining this community. Over-viewing the site, I felt very informative and co-operative attitude of the people. Hope, the impression on me will be sustained for ever.
Let me come to my real question and need. It is as under.
MATTER:
I have shares of some companies with me in physical form. Those shares I want to transfer to the name of my Son, who is having a DEMATE account of him. What should I do for this? Which form should I fill and what fees and other charges i shell have to bear? Nerrate the actual procedure steps and GUIDE me at your best.
Regards and THANKS in anticipation.
Navin/19-7-09

 

[Smart_trade]

Friends.
This is my first step while joining this community. Over-viewing the site, I felt very informative and co-operative attitude of the people. Hope, the impression on me will be sustained for ever.
Let me come to my real question and need. It is as under.
MATTER:
I have shares of some companies with me in physical form. Those shares I want to transfer to the name of my Son, who is having a DEMATE account of him. What should I do for this? Which form should I fill and what fees and other charges i shell have to bear? Nerrate the actual procedure steps and GUIDE me at your best.
Regards and THANKS in anticipation.
Navin/19-7-09

The above could be done by two methods:

1) Get share transfer forms from any stockbroker or stock exchange ( these are green colour forms) Fill these forms and transfer the shares from your name to the name of your son.You will have to affix share transfer stamps @ 0.25 % of the market value and send the same to Company's registrar and transfer agents or to registered office of the company if there are no RTA. The transfer will take about 1 month ....afterwords your son can fill up forms for dematerialisation and tender the shares to his Depository Participant ( meaning where he has demat account) and the shares will be dematted in his name.

Second procedure is faster and preferable..

2) You open a demat account in your name,get the shares dematted,transfer the dematted shares to your son's demat account as offmarket transfer and then close your demat account...

Second alternative will be faster,less risky and cost effective

Best Wishes,

Smart_trade