Demat Account for HUF
This query is : Resolved
25 September 2021
I have HUF Savings Account since 1985, My HUF is consist of wife, and two sons. Being NRI
family now, Can I open Demat HUF account ? and transfer holdings from my NRI Demat accounts to the new proposed HUF Demat account?
Regards
Chhabilbhai
family now, Can I open Demat HUF account ? and transfer holdings from my NRI Demat accounts to the new proposed HUF Demat account?
Regards
Chhabilbhai
25 September 2021
Yes, you can but for what purpose? Transfer of shares in HUF name will be an additional procedure.
01 October 2021
Thank you. Purpose is not to cover in my Indian and US will. I will make my SB savings account in to NRO ,saving accounts, and gift my shares to to NRO HUF and open new Demat account etc I will contact in person for your help. Thank you again.
Message likes :
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01 October 2021
The reason being the transfer will not help in saving CG tax, whenever sold, because of clubbing provision.
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