Demat account
Demat Account is an account that is used to hold shares and securities in electronic format. The full form of Demat account is a dematerialised account. The purpose of opening a Demat account is to hold shares that have been bought or dematerialised (converted from physical to electronic shares), thus making share trading easy for the users during online trading.
When to renew Demat account in Nepal?
In the context of Nepal Demat will get expire in end of every fiscal year i.e. end of Ashad. The renew charge of Demat is Rs. 100 only and renew charge of Meroshare account is Rs. 50. Here we should be clear that after renew of meroshare we get validity of full one year but whenever you open first demat account it will expire on Ashad 31.
Example:
If you open your first demat account on Ashad 15, 2078 then also your demat account will expire on Ashad 31, 2078.
How to renew Demat account in Nepal?
In present context demat can be renew by two types i.e. OFFLINE and ONLINE.
Offline renew
To proceed through offline you have to visit concerned bank or Capital office and pay cash on counter. It will take one working day to get renew.
Online renew
Due to use advance technology and digital wallet system it gets much easier to renew on real time. Some digital wallet providers like esewa, khalti, prabhu pay, ime pay, connect IPS are current payment partner connected with CDSC which can renew Meroshare and Demat within a seconds. Before renew you must have balance loaded digital wallet like esewa khalti etc.
👉Video Tutorial
How to renew Demat and MeroShare account in real time
Step wise Detail process
Step 1:
First open the browser(google chrome, Firefox, safari etc) and enter the web address
Step 2:
Enter DP id, username and password and click Login
Step 3:
Click on your name top right corner and My profile will appear. You can see the expiry date of meroshare and demat account. You can proceed further as per need or renew.
Click on renew account to proceed further.
Select appropriate payment partner. Here we select esewa you can choose as your availability.
Step 5:
Step 5:
Tick the desire service to renew
Option 1 : Meroshare & Demat - cost = Rs. 150
Option 2 : Meroshare Only -cost = Rs. 50
Option 3 : Demat Only - cost = Rs. 100
Here I have chosen option three demat only because meroshare have enough date to get expire.
Click on proceed for further process.
Step 6:
Web browser will be redirect to esewa page. https://esewa.com.np/epay#/
Enter Details of esewa id (i.e. esewa register mobile no.), password and click on Login
Click on Continue payment
Click on Confirm
Step 7:
Check the date by redirecting to My profile you can see the expiry date gets extended.
More info:
Fiscal year
A fiscal year is a one-year period that companies and governments use for financial reporting and budgeting. A fiscal year is most commonly used for accounting purposes to prepare financial statements.
Fiscal year in Nepal
16 July - 15 July
Definition: This entry identifies the beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
👉KEY TAKEAWAYS
- A fiscal year is a one-year period chosen by a company to report its financial information.
- Financial reports, external audits, and federal tax filings are based on a company's fiscal year.
- Companies may choose to report their financial information on a non-calendar fiscal year based on the specific nature and revenue cycle of that business.