Procedure: Transfer Shares from one Demat account to another

A lot of people these days are shifting to ‘discount brokers’ like Zerodha because of low brokerage and annual charges for the Demat account.

If you want to transfer your shares from your old Demat account to the new one, the procedure is simple.

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Procedure: Transfer Shares from one Demat account to another 1

Transfer shares from one Demat account to another

  • Open a Demat account with Zerodha or any other broker.
  • Call your old broker and request ‘Debit Instruction Slip’ (DIS), which is a booklet to transfer shares from your old broker.
  • Ask your old broker about the charges to transfer the shares. With some brokers, it’s possible to negotiate the charges.
  • Once you get the DIS Booklet, enter the name of the shares you wish to transfer – along with the unique ISIN Numbers. (This step is important, do it correctly)
  • Also enter the 16-character ‘DP ID’ – which would look something like ‘1259278901234567’.
  • Some brokers might ask for the CMR (Client Master Report) copy of your new broker.
  • If your new broker is Zerodha, send them an email or call their customer care. They will revert back with your CMR copy.
  • Forward the CMR Copy to your old broker.
  • After filling the DIS booklet, double-check to make sure all details are correct.
  • Finally, submit the DIS Booklet to your old broker. They will initiate the transfer of shares.

Usually, it takes 1-2 working days for your shares to be transferred from the old account to the new one.

To check if the shares have been transferred, go to the ‘Holdings’ section – where you should find your old shares in your new demat account.


  • There are no tax implications when you transfer shares to your new demat account, because the ownership of the shares does not change.
  • Transfer of shares from one demat to another can be done online, however, it’s safer and easier to visit your broker and do it manually.


This section isn’t very important because if you do your transfers manually through your broker, they should help you identify if your new broker is with CDSL or NDSL.

For those unaware, there are two national depositories in India.

  1. National Securities Depository Limited (NSDL)
  2. Central Depository Services Limited (CDSL)

Your shares are stored with one of these two depositories.

If your old broker and new broker are with the same depository, then it is called ‘Intra-Depository’ transfer.

Whereas, if your old and new broker are with different depositories, then it is called ‘Inter-Depository’ transfer – i.e your shares will have to be transferred from NSDL to CDSL or vice versa.

If the transfer is Intra-Depository, the option to select in the ‘DIS’ Booklet is ‘Off Market Transfer’.

If the transfer is Inter-Depository, the option to be selected is ‘Inter Depository’.

Your old broker should help you select the correct option.

If you have any questions, please ask in the comments section below.

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  • Sir,
    Do I have to fill in the DIS slips in case I am filing an account closure form with Upstox and providing my Zerodha DPID details for transfer of balance holdings in my Upstox account. Also they have mentioned as a last line in their account closure form a term” Shifting of Account” – if you could please explain…much appreciate — Thank You –Jagdiesh

  • is it possible to transfer holdings from one demat account with single account holder to another demat account with joint account holder, the primary holder remaining the same?

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