Statement of Transactions (SOT)
Overview
The Statement of Transactions (SOT) is a document issued by a depository – CDSL or NSDL – through the depository participant (DP) that records every credit and debit of securities in a specific demat account during a chosen period. It is the demat account’s equivalent of a bank account statement, showing the movement of securities rather than cash. For Zerodha clients (whose accounts are on the CDSL platform in most cases), the SOT is available through the CDSL Easi portal and can also be generated through Zerodha Console.
The SOT provides a depository-level audit trail of every securities transaction: market purchases, market sales, off-market transfers (both incoming and outgoing), corporate action credits (bonus, rights, dividend reinvestment), pledge creation and release, transmission entries, and any DRF (Dematerialisation Request Form) credits. Unlike the broker’s Tradebook, which records trade executions, the SOT records depository-level settlements – the actual movement of ISIN units in and out of the demat account.
Regulatory basis
- Depositories Act, 1996, Section 15 – requires depositories to maintain transaction records and make them available to beneficial owners.
- SEBI (Depositories and Participants) Regulations, 2018, Regulation 73 – mandates that DPs provide periodic statements of account (which incorporate both holding and transaction data) to clients.
- SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 – the Consolidated Account Statement (CAS) incorporates the SOT data for the period, making the SOT data automatically available monthly. However, the standalone SOT for a single DP remains a separately requestable document.
- CDSL Operating Instructions / NSDL Operational Guidelines – define the data fields, delivery timelines, and format specifications.
DPs must make the SOT available to clients on request and deliver it automatically as part of the periodic account statement cycle.
Data fields in the Statement of Transactions
Each row in the SOT represents one demat transaction:
| Field | Description |
|---|---|
| Date | Settlement date of the transaction (date on which the demat account was debited or credited) |
| ISIN | International Securities Identification Number of the security |
| Security name | Name of the company, ETF, or instrument |
| Transaction type | Credit or Debit |
| Quantity | Number of units transferred |
| Reason / Narration | Description of the transaction type (see below) |
| Counter-party DP and client ID | For off-market transfers, the DP and client ID of the counterparty |
| Settlement number | Exchange settlement number (for market transactions) |
| Balance after transaction | Running balance of the ISIN in the account after this entry |
Transaction types that appear in the SOT
Market credit (MCR) – securities credited following a market purchase (i.e., a buy trade executed on NSE or BSE that has settled).
Market debit (MDR) – securities debited following a market sale.
Off-market credit (OCR) – securities received via a DIS (Delivery Instruction Slip) from another demat account, without going through the exchange. Common for share transfers as gifts, ESOP vesting credits from employer, or off-market purchases.
Off-market debit (ODR) – securities sent to another demat account off-market.
Corporate action credit – bonus share credits, rights share credits, dividend reinvestment credits, stock dividend credits.
Demerger / merger credit or debit – shares of a resulting company credited or shares of the transferor company debited in a court-approved scheme.
Pledge creation (PCR) – quantity locked as pledged (marked as pledge lien in favour of the pledgee, typically the broker for margin).
Pledge release (PRR) – lien removed and quantity returned to free balance.
Pledge invocation (PIR) – lien invoked by the pledgee (broker calling in the pledge, usually after margin default); quantity transferred to the broker’s account.
Dematerialisation credit (DEM) – physical share certificates converted to demat form and credited to the account.
Rematerialisation debit (REM) – demat shares converted back to physical certificates.
Transmission credit/debit – shares transferred in or out due to death of account holder and succession by legal heir.
Freeze / unfreeze – account or ISIN-level freeze applied or removed (e.g., during investigation or at the instruction of the account holder).
How to obtain the SOT
Through CDSL Easi (for CDSL accounts)
- Register and log in at
easi.cdslindia.com. - Navigate to Statements > Transactions.
- Select the date range (from date and to date).
- Click Download to receive the PDF or Excel file.
The Easi portal retains transaction history for the current and preceding two financial years. For older records, a physical request to the DP (Zerodha) is necessary.
Through NSDL eServices (for NSDL accounts)
- Log in at
eservices.nsdl.com. - Navigate to Account Statement > Transaction Statement.
- Select the period and download.
Through Zerodha Console
Zerodha Console does not provide a standalone SOT in the depository format, but the Tradebook serves as a broker-side equivalent for market transactions. For off-market transfers, corporate actions, and pledge events, the CDSL Easi portal is the authoritative source.
Differences from the broker Tradebook
The SOT and the Tradebook cover overlapping but distinct information:
| Aspect | SOT (depository) | Tradebook (broker) |
|---|---|---|
| Source | CDSL / NSDL depository system | Broker’s OMS / back-office |
| Records market trades | Yes (at settlement date) | Yes (at trade date) |
| Records off-market transfers | Yes | No (unless processed through broker) |
| Records corporate actions | Yes | Partially |
| Records pledges | Yes | No |
| Includes price paid | No | Yes |
| Includes charges | No | No (charges are in the Ledger) |
| Date reference | Settlement date | Trade date |
The key distinction is that the SOT records depository-level events (the actual movement of ISIN units) while the Tradebook records exchange-level events (the execution of orders). A purchase trade appears in the Tradebook on trade date (T) but in the SOT on settlement date (T+1 under the current equity settlement cycle).
Uses of the SOT
Reconciliation
Investors and chartered accountants use the SOT to reconcile the broker’s Tradebook against the depository’s records. Every market credit in the SOT should correspond to a buy trade in the Tradebook (adjusted for the T+1 lag). Any credit in the SOT without a corresponding Tradebook entry may indicate an off-market transfer, corporate action, or dematerialisation.
Tracing corporate action history
Corporate actions (bonus, rights, splits) appear in the SOT as credits with specific transaction type codes. The SOT provides the authoritative date on which the depository credited the shares, which is important for determining the holding period and cost basis for tax purposes.
Investigating unauthorised transactions
If a client suspects unauthorised trading or transfer of securities, the SOT provides the depository-level view of what actually happened to the securities. Combined with the Tradebook, this allows identification of whether a trade was executed on the exchange (market transaction) or whether securities were transferred off-market (which requires a DIS instruction and is a more serious concern).
ESOP and off-market transfer documentation
Shares received via ESOP vesting appear as off-market credits in the SOT. The SOT entry confirms the credit date (which starts the holding period for tax purposes), the number of shares, and the counterparty DP ID (the employer’s ESOP trust account). This is essential documentation for computing capital gains on ESOP-derived shares, where the cost is typically the fair market value on the vesting date.
Inheritance and succession
For a deceased investor’s legal heirs processing a transmission claim, the SOT provides a record of all transactions in the account, which helps establish the investment history and supports the valuation of the estate.
Retention
Transaction history is retained by CDSL and NSDL for at least five years online (accessible through their portals). Older records are archived but can be retrieved on formal request. Clients should download and archive the SOT annually for at least six years from the relevant assessment year, in line with income tax record-keeping norms.
Related reports
- Statement of Holdings (SOH) – the point-in-time snapshot of holdings that the SOT’s transactions feed into.
- Consolidated Account Statement (CAS) from CDSL – includes transaction data across all demat accounts under a PAN.
- Console Tradebook – broker’s trade execution record (complements the SOT).
- Console Holdings report – broker’s enriched holdings view with cost basis.
References
- Depositories Act, 1996, Section 15 – Record-keeping and statement obligations.
- SEBI (Depositories and Participants) Regulations, 2018, Regulation 73 – Periodic statement of account.
- CDSL Operating Instructions, Client Statement formats –
cdslindia.com. - NSDL Operational Guidelines for DPs, Transaction Statement chapter –
nsdl.co.in. - Zerodha Support, “How to get your demat transaction history” –
support.zerodha.com. - SEBI Circular SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 – CAS and periodic statement framework.