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Demat A/c

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(Querist)
21 July 2009 Some shares have been jointly held by husband and wife.Hudband dies.Can wife held those shares on her single name? What is the procedure for this? Is she requied to change her Demat A/c or can she continue with the old one? I the lady transfers the shares to her daughter, is daughter liable to Caital gain tax?
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SHILPIN D MEHTA

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SHILPIN D MEHTA (Expert)
21 July 2009 NSDL has specific guidelines for this type of cases.
Wife has to open a new a/c in her name and the shares will be transferred to her a/c.
If the value of the shares are above Rs. 1 lac then she will have to provide affidavit to the concerned DP.
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