Want to GIFT a Stock Using Zerodha, but not sure how? Here’s a detailed guide for you.
Zerodha is India’s No. 1 Stock brokerage company, here they have 7.5+ million trusted customers.
You can gift your favorite stocks on festive occasions like Marriage, Christmas, New Year, Eid, Diwali, etc., Note: These are valuable gifts to your valuables.
To buy a gift we spend several hours purchasing it but in Zerodha it will be much easier to gift stocks by using their Zerodha Console and recently by using the CDSL we can gift stocks, below are the steps to gift a stock.
This process is an Intra Broker Transfer feature. The sender and receiver both should have the Zerodha Demat account.
For gifting the stocks you should have the Zerodha Demat account and If you don’t have an account, then you can open an online account.
If you’re interested to open your DEMAT Account with Zerodha, here is the Direct Account opening link
Once the account is activated, then you purchase the stocks and once it’s on holdings, then you can gift the stocks.
Below are steps on how to give gifts to your loved one –
Log in to your Zerodha Kite Application and enter your login credentials.
Then on the top right, you will see the console on the drop-down, then select it. Then head over to the gift stock section.
To send a gift you have to enter the name, mobile number & email ID(optional), then click on continue. Select the stocks which you want to give from your holdings. Stocks with how much quantity you want to GIFT.
Once you click on the ‘Confirm & send’ button.
Once you send a notification it will appear like this “Gift notification sent to the receipt. Awaiting Confirmation.”
Another way to gift the stocks is to generate a link and share it with loved ones through an email address.
The recipient will receive an email and then they have to accept the stocks email. The receipts have to log in with their Zerodha Kite login or check your email and accept the stocks.
The sender will receive a notification as a receiver has claimed and then you(sender) have to approve it.
You will get the confirmation as ‘as you are transferring the shares’, then click on confirm, when you confirm it will be redirected to the CDSL page for TPIN authentication.
You will be confirmed with a notification as “Gift approved”.
NOTE: The transaction needs to be authenticated by OTP on CDSL before 8 P.M on the same day.
If you don’t do this you can’t proceed further.
After 5 P.M you will get an SMS saying that initiate the process further, then enter PAN CARD or Demat Account Number, then click on the submit button.
You will be redirected to the Off Market page, select the check box and then Generate OTP, then enter OTP and then accept it.
You will be notified as ‘Selected Transaction Accepted Successfully’.
2 days later they can log in to their Zerodha Kite, then go to the holdings tab, and then will notice there will be the new stock that was gifted to you.
The holding transferred by the sender of the gift will be closed at the previous closing price of the stock, and the average price of the receiver of the stock will be the same closing price of the stock.
There are no additional charges for gifting. An off-market transfer charge of Rs. 25 or 0.03 whichever is higher will be calculated.
If the gift value exceeds more than Rs. 50,000 it’s taxable.
You can only GIFT the ‘approved securities for gifting’ link here.
Next time if you are gifting someone considers this Zerodha stock gifting option. You can gift them on festive occasions.
You can very easily open a Demat account on Zerodha by clicking here: Open a DEMAT A/c