In this case, it would be exempted.
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Discussion / Re: Can Minor open DEMAT or Trading A/c??
July 25, 2018, 02:42:52 PMQuote from: Bhumin on April 19, 2012, 05:08:42 PM
Dear All,
1) Can Minor open 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.
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