SEBI modifies “Master Circular for Depositories dated February 05, 2021″ w.r.t. Opening of Demat account in case of HUF
- News|Blog|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 18 February, 2022
Latest from Taxmann
SEBI has specified certain modifications to the Master Circular for Depositories issued on Feb 05, 2021. As per SEBI’s earlier circular “ In the event of death of Karta of HUF, the name of the deceased Karta in the Beneficial Owner (BO) account shall be replaced by the new Karta appointed by the member of the HUF who in such a case shall be senior most member of the family except married daughter”. SEBI’s earlier circular restricted married daughters from being new Karta of the HUF in case of the death of the Karta. SEBI has taken away that restriction now.
Further, SEBI specified that guidelines as specified in SEBI letter No. MRD/DSA1/OW/4946/2018 and 4947/2018 dated February 14, 2018 also need to be followed in case of opening of Demat account in case of death of the Karta. Earlier only SEBI letter No. SEBI/HO/MRD/DP/OW/25739/1 and 25740/1 dated September 14, 2016 was required to be followed. All other provisions of the earlier master circular dated Feb 05, 2021, remain the same.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
