Hi,
I want to open a demat and trading account for minor.
Demat for minor is possible and easy.
Trading account for minor there is lot of confusion. Can we open or need to open guardian trading account and map with minor demat? Or what else?
At which full service broker & DP can i open paperless trading and demat account for minor?
Other than hdfc icici kotak iifl ?
I m not sure , can zerodha support team answer it
As per the Indian Contract Act, a minor cannot be held as a party to the contract. In light of the same as an internal policy, we do not open any minor trading accounts.
You could open a minor demat account to hold shares. The shares will have to be transferred through off market to the minor’s demat account.
Can we transfer shares from zerodha minor demat to zerodha guardian demat account completely online through easiest?
If yes, any charges associated by Zerodha or CDSL?
Yes, while you can transfer shares online using easiest, enabling easiest would mean that your PoA would be unmapped and you would not be able to sell your holdings through Zerodha.
This is to ensure that clients who sell shares through Zerodha do not transfer them out before the Exchange obligation is met.
Charges for off market transfer is 0.03% of the value of shares or Rs.25/- whichever is higher.
I have faced several challenges in zerodha for Minor acct mutual transfer using PoA , please concerns local zerodha office before proceeding …
I recently got ipo credit to minor account, can I sell from guardian demat on listing day (qty which I don’t have in guardian account) & transfer from minor to guardian and auto - settle it that way by EOD?
@VenuMadhav
You won’t be able to sell shares which aren’t in your holdings. If you want to, you’ll have to first transfer the shares to your account and sell afterwards.
For Minor DEMAT account any charges for Account opening?
For account opening charges, Upfront cheque is required or we can pay the fees online in the signup portal?