356. Virat singh| Link| Bookmark|
August 29, 2023 6:27:33 PM
Top Contributor (300+ Posts, 200+ Likes)
Any income tax expert i have a question if pan card is not linked with aadhar card then pan card will become inoperative in that case. Suppose if someone is having fixed deposit in any bank and he or she has submitted 15g or 15h form then will tds get deducted or not from his account.
Just curious to raise the following sequence, in response to all these discussions about continuing with the Demat account of a disceased person -
* A death certificate now-a-days comes with Aadhar Number;
* Once death is marked against an Aadhar Card, does it not become lapsed/invalid?
* PAN is linked to the Aadhar, and in case the Aadhar Card turns lapsed/invalid, does the PAN have any legal sanctity for any FRESH transactions after the death, except settlement of existing assets?
* Annual Information System (AIS) contains information on any capital gains/loss, and I wonder if the IT department will remain silent towards fresh investment transactions against such PAN Card(s)?
353.2. Sandapaul| Link| Bookmark|
August 29, 2023 6:19:35 PM
Top Contributor (300+ Posts, 100+ Likes)
I am an income tax officer, lets answer this.
Department doesnot have any way to check if a person is deceased, you urself have to provide info as legal heir, otherwise dept will not mark PAN as inoperative.
Secondly for deceased person Bank can close account, they come to know by their means kyc, etc, if account gets closed you will be in mess as you cant get shares transferred as that process will ask for death certificate.
Department will send notices to all those who are applying in shni/bhni quotas, who had not filed ITR in previous 3 years or not having profile to apply for those categories. As people send money to other and apply from others account. They will be in a mess as max limit to send money as gift is just 50000. So use demat account only for people termed as relative as per income tax act, dnt use it with friends and distant relative as you will be get into mess later on, as govt wants to increase tax base as very few are paying taxes but many are doing hefty transactions without any worth. So those applying from other than father, mother, son, daughter, sister, brother,son in law, father in law, mother in law accounts must be ready to face department proceedings in future
@SATISH CHAVDA Nothing wrong. Shares will be credited before the market hours. By the way from December, T+3 is planned, then more than 1,2 works will be done each day. Like Day 1 - Rough work. Day 2 - Alotment and refund. Day 3 - Shares credit and Listing.
347. hbk| Link| Bookmark|
August 29, 2023 3:51:36 PM
Top Contributor (300+ Posts, 100+ Likes)
Let's have a vote for Aeroflex allotment update from LinkIntime. 1.) Similar to Concord and TVS Supply (Money will be debited today in night after 10 pm, but linkintime site won't be updated till tomorrow). 2.) Allotment will be out along with debit/refund by EOD. 3.) Both debit and update on site will be done tomorrow. 4.) Others (Please specify).
By the way, I have sent a mail to Sebi as well about their professionalism. :)
लगे रहो मुन्ना भाई, दादी जी का अंगूठा नहीं लगाना सिर्फ पासवर्ड चालू रखो,बैंक एवं डिमेट AVTIVE रखो। कुछ कमाई करो तो दादी जी के नाम पर धर्म करो। I TAX का भुगतान बने तो करते रहना। बाकी राम जी पर छोड़ दो
340.2. Scrip| Link| Bookmark|
August 28, 2023 11:05:51 PM
Top Contributor (500+ Posts, 200+ Likes)
IPC 416 Cheating by personation
isko padh lo answer mil jayega
340.3. IPOGainers| Link| Bookmark|
August 29, 2023 1:54:41 AM
Top Contributor (500+ Posts, 100+ Likes)
Bhai jis din pakde jaoge pata lag jayega. Why to get into legal issues?
Big avoid to this. Don’t do this just on the basis of moral ethics if not anything else.
340.5. IPO.RIKI| Link| Bookmark|
August 29, 2023 3:37:09 AM
Top Contributor (400+ Posts, 100+ Likes)
Bro i have also demat accounts of 3 senior citizens in my family... May God give them long & healthy life. Not bcoz we want to earn from ipo. But if anytime they leave to heaven, i shall immediately close the accounts. Ipo ke liye bahot log hai bhai. Dont mess with law. Else jitna aaj tak kamaya vo jayega + ijjat ki m..b...n ho jayegi, jail alag. Bcoz isme evidence bhi nahi mita paoge tum as sab bank ke through hota hai.
What if he apply and if share allotted then transfer to hiis dmat account so whatever gain loss will be there l, will be consider on his part @@IPOGainers@Scrip
I know someone doing this in her deceased mother's account. But there is no one to complain as she is the only child & she immediately transfers allotment (if any) to her own account. Actually her mother has got some dud NCDs like dhfl,srei & rhfl which defaulted in payments so her DP told to continue the account untill resolution of these NCDs happens.
Srei still remains.
She says will close once she receives srei money. I know it's not legal. In fact once rekyc was also done for her account after her demise.
340.12. Ankur Goel| Link| Bookmark|
August 29, 2023 1:00:39 PM
IPO Guru (1300+ Posts, 600+ Likes)
@Mihir jain Legally it is not advisable. Do not mess up your life for few bucks,
340.15. IPO.RIKI| Link| Bookmark|
August 29, 2023 1:25:16 PM
Top Contributor (400+ Posts, 100+ Likes)
Mr. Kishen Harendra bhai saab.. koi troll vroll nahi kar rahe hum... is chiz me common sense hai ke nahi karna chahiye... legal me phasega to aap bachane jaoge ?? Aur troll to troll hi sahi... jo sahi hai vo bol diya... mihir don't do it... take advise from your advocate. Infact open demat account of someone else in family or relatives...
@Mihir jain Jab tak pakde na jao, ya account close na karo, tab tak kar sakte ho. But why to do all this. Follow Indian Laws, and don't even try to mesh with Law.
@Someone जी इस तरह कोई सवाल ही नहीं बनता. ये तो common sense की बात है अगर इंसान की मृत्यु हो गई है तो account बंद करो. बस इतनी सी बात है
340.17. dpcdsl| Link| Bookmark|
August 29, 2023 5:42:53 PM
Top Contributor (400+ Posts, 200+ Likes)
SEBI has instructed KRA to obtain information from UIDAI and through various Market Intermediaries about deceased persons and block and delete their KRA record. When in KRA record any PAN is identified as of deceased person all Market Participants shall close those accounts.
Today i have visited SBI bank for hold amount issue and they asked to give written application. I have given written application also. Let's hope that they revert back to original hold amount 2,10,600/- till tonight because tomorrow allotment !! :) #PrayingForWorkFastInSbi
This is more like wishful thinking. SBI ne aaj application li, ho sakta hai relevant desk par next week tak pahunch jaayegi and tab karwaai chalu hogi.
I would be very happy even if they put in some efforts to do something.