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How to Transfer Shares Between Brokers (2026) Without Selling
Switching brokers? Learn how to move shares from one demat account to another without selling, using online or offline transfer, plus charges and tax points.
Why transfer instead of selling?
Selling everything and buying again in a new account triggers capital gains tax, charges on both sides, and the risk of prices moving in between.
A direct transfer moves the shares as they are. You keep your holdings, and in most cases your original purchase date and cost still apply for tax purposes, as long as you keep proper records.
Before you start
Gather a few details so the transfer goes smoothly.
- Your new demat account number (BO ID) and the depository it belongs to (NSDL or CDSL)
- Your old demat account details and login
- A list of stocks and quantities you want to move
- Your new broker's client master report (CMR), if asked for
Pro tip: Make sure both demat accounts are in the same name and order of holders, or the transfer may be rejected or treated differently.
Option 1: Transfer online
Both depositories offer online facilities for transferring securities. CDSL users can typically use its Easiest platform, and NSDL users can use its Speed-e facility, after registering.
You log in, enter the target demat account and the securities to move, and authorise the instruction, usually with an OTP. Some brokers also offer a built-in transfer option in their app.
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Option 2: Transfer offline with a DIS slip
The traditional way is to fill a Delivery Instruction Slip (DIS) from your old broker's DIS booklet. You write the target account details, the ISIN and quantity of each stock, and sign it.
Submit the slip to your old broker. They process it and the shares move to your new account, usually within a few working days. Keep the acknowledgement copy safely.
Charges to expect
Your old broker or depository participant may charge a fee per stock or per instruction for an off-market or inter-depository transfer. Check their tariff sheet before you start.
There may also be stamp duty implications in certain types of off-market transfers. When moving shares between your own accounts, check with your broker about how the transfer reason is recorded.
Tax and record-keeping
A transfer between your own accounts is not a sale, so it does not create capital gains by itself. But your new broker will not know your original buy price automatically.
Save your old contract notes and holding statements, and update the purchase cost with the new broker if they allow it. This keeps your tax P&L reports accurate when you eventually sell.
Frequently asked questions
How long does a share transfer take?
Online transfers are often processed within a day or two, while offline DIS transfers can take a few working days.
Can I transfer shares from NSDL to CDSL?
Yes. Inter-depository transfers between NSDL and CDSL accounts are allowed and routinely processed.
Do I need to close my old demat account?
No, but if you no longer use it, closing it avoids future annual maintenance charges.
Will my holding period reset after transfer?
A transfer between your own accounts generally does not change your original purchase date, but keep your records to prove it.
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Educational content, not investment advice. Investments in securities markets are subject to market risks.