Dear All,
1) Can Minor open Demat A/c?
2) Can Minor open Trading A/c?
3) What if minor received share by way of gift or inheritance - How to hold those shares or how to transfer those shares ?
Regards,
Bhumin Mehta.
Through Natural/legal Guardian a minor can open account,perform trading and get gift/ inheritance and he can hold these share and for the betterment trading can be done trough his guardian.
Suhail A. Siddiqui,Advocate 9810043819
Quote from: Bhumin on April 19, 2012, 05:08:42 PM
Dear All,
1) Can Minor open Demat account (http://www.angelbroking.com/demat-account/what-is-demat-account)?
2) Can Minor open Trading account?
3) What if minor received share by way of gift or inheritance - How to hold those shares or how to transfer those shares ?
Regards,
Bhumin Mehta.
A minor cannot open a demat or trading account by him/herself but can use his parent's trading account if needed.
In the case of a gift or inheritance too, it would have to go to the parent's account since the kid won't have a legal account.