Comment on Now gift stocks and ETFs to your friends and loved ones

Milford commented on 04 Jul 2021, 10:47 AM

If otherwise, you have to gift stock or a bond, the process is entirely physical. The donor has to fill up a delivery instruction slip (DIS) and submit the same to his Depository Participant (DP). The DIS will have details such as names and DP IDs of the donor and donee, client ID and number of shares to be transferred etc. The transfer date needs to be mentioned too. Once you submit the DIS, the transfer will get executed on the mentioned date. However, the shares will still be with the DP of the donee. Now, the donee has to fill up a receipt instruction and submit it to his DP. Once that happens, the shares received from the donor’s DP will be credited to donee’s Demat account.

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