What are the guidelines for a HUF Demat account?

What are the guidelines for a HUF Demat account? 

A HUF Demat account must be opened in the name of the Hindu Undivided Family (HUF), as mentioned on its PAN card. The following requirements apply: 

  • Joint Holders: A HUF account can have a maximum of two individual joint holders, as per the applicable account-opening guidelines. 

  • Nomination: A nominee cannot be appointed for a HUF Demat account. 

  • Karta's Signature: The Karta must sign the account opening form under the HUF stamp. 

  • PAN Details: PAN details of both the HUF entity and its Karta must be submitted. 

  • Account Name: The account name must match the name appearing on the HUF's PAN card, for example, A H Doshi & Sons or Bal Govind Zangle (HUF). 

  • POA/DDPI: If the Karta authorizes another entity to operate the HUF account through a Power of Attorney (POA) or Demat Debit and Pledge Instruction (DDPI), the document must be signed by all HUF members, the Karta, and all joint holders, as applicable. 

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