Demat accounts attract annual fees and maintenance charges. It is a good idea to close all your inactive or zero balance demat accounts. If there are active balances, they can be consolidated into one account and the remaining redundant demat accounts can be closed. Closing a demat account involves visiting the DP office or branch by any of the demat account holders and submission of requisite form and documents.
Form
The account holder can download the application form from the website of the depository participant or DP.
Details
The following details need to be mentioned:
1. DP ID and Client ID
2. Existing details like name and address it should match the records.
3. Reason for closing the account. All holders are required to sign the closure request form. POA holder (if any) cannot sign the closure request.
Transfer If the demat account has any balance (holdings), details of the account to which this balance needs to transferred must be mentioned in the form. The transfer can also be carried out by filling up a delivery instruction slip (DIS) before closure of the account.
Process
Once the form is submitted and is in order, it takes 7 to 10 business days to close the account.
Charges
There are no charges for account closure.
If the account has any negative cash balance, it must be settled before submitting the request for its closure.
Unused delivery instruction booklet slip should be submitted back to the DP.
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds
Top 10 Tax Saver Mutual Funds for 2017 - 2018
Best 10 ELSS Mutual Funds to invest in India for 2017
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. ICICI Prudential Long Term Equity Fund
5. Birla Sun Life Tax Relief 96
6. Franklin India TaxShield
7. Reliance Tax Saver (ELSS) Fund
8. BNP Paribas Long Term Equity Fund
9. Axis Tax Saver Fund
10. Birla Sun Life Tax Plan
Invest in Best Performing 2017 Tax Saver Mutual Funds Online
Invest Best Tax Saver Mutual Funds Online
Download Top Tax Saver Mutual Funds Application Forms
For further information contact SaveTaxGetRich on 94 8300 8300
----------------------------
Leave your comment with mail ID and we will answer them
OR
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
OR
Call us on 94 8300 8300
Posts
![[ Registered ]](http://www.diarist.net/registry/button.gif){kind=small}
No comments:
Post a Comment