Most people don’t realize this, but when someone passes away, getting their shares transferred to family members can sometimes become a bigger headache than expected.
Under the earlier framework, simplified documentation was available only for physical holdings worth up to ₹5 lakh and demat holdings worth up to ₹15 lakh. Beyond these limits, families often had to go through additional paperwork and legal formalities, making the process more time-consuming.
SEBI has now proposed changes to make this process much simpler.
For smaller holdings, a new “Quick Transmission Processing” route will allow securities to be transferred with minimal paperwork. Claims of up to ₹10,000 for physical holdings and ₹30,000 for demat holdings can now
be processed under this fast-track mechanism.
The limits for simplified documentation have also been increased significantly:
• Physical holdings: ₹5 lakh → ₹10 lakh
• Demat holdings: ₹15 lakh → ₹30 lakh
A few other important changes:
• No need to submit PAN again if it’s already available through the demat account.
• Mandatory probate of a will has been removed in many cases.
• Affidavit and NOC can now be combined into a single document.
• QR-code enabled death certificates will be accepted for verification.
This may not be a headline-grabbing reform, but it’s one of those changes that can make a real difference when it matters the most.