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Demat Account- Meaning, Importance and Documents required

A Demat Account (Dematerialized Account) is an electronic account used to hold and trade financial instruments like stocks, bonds, and mutual funds. It eliminates the need for physical share certificates, ensuring secure and paperless transactions. A Demat account offers benefits such as quick share transfers, secure storage of securities, and easy access to dividends and bonuses. There are three types: Regular, Repatriable, and Non-Repatriable Demat Accounts, catering to different investor needs, including NRIs. To open a Demat account, documents like PAN card, Aadhaar, bank details, and KYC documents are required. Linking it with a trading account enables smooth buying and selling of securities.

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Don’t leave your family’s future to chance.

Without a will, your loved ones may face legal battles and disputes over your assets. Ensure your wishes are honored and your family's future is secure. Take the step today to write a will.

Unlock Forgotten Wealth: Reclaim Your Unclaimed Assets.

📞 Call Us - +91-8287103437

✉️Mail Us- advisors@glcwealth.com

🌐Our website- www.glcwealth.com

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Did you know that JSW Steel, Titan, and Bajaj Finance have delivered a whopping 800x to 900x returns over the past 20 years? Check if you have unclaimed shares in these high-performing companies and let us help you recover your forgotten investments! Contact us to learn more and claim your rightful wealth today! 📞 Contact us at - +91 8287103437 ✉️ For inquiries - advisors@glcwealth.com 🌐 Visit our website⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣⁣ - www.glcwealth.com

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Find out what constitutes an unclaimed dividend, what constitutes an unclaimed dividend, and how to submit unclaimed dividends to the IEPF. You may quickly collect your unclaimed money by following our step-by-step guide.

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India is seeing a daily rise in the number of citizens who decide to leave the country in search for better employment possibilities, all the while maintaining financial ties to their family roots in India via monetary transactions. These people are called NRIs. Those who own an Indian passport yet live outside of the country are referred to as NRIs, or Non-Residents of India. https://glcwealth.com/blog/nre-and-nro-account-meaning-benefits-difference/

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NRE and NRO Accounts: Meaning, Benefits and Differences

India is seeing a daily rise in the number of citizens who decide to leave the country in search for better employment possibilities, all the while maintaining financial ties to their family roots in India via monetary transactions. These people are called NRIs. Those who own an Indian passport yet live outside of the country are referred to as NRIs, or Non-Residents of India.

How do these individuals handle their financial transactions with their Indian families? The Indian government strongly values the financial inflow that non-resident immigrants (NRIs) bring into the nation. To facilitate their transactions, the government offers NRO (Non-Resident Ordinary) and NRE (Non-Resident External) accounts.

NRE Account The NRE account provides total security and is denominated in Indian rupees. These accounts might be fixed deposit, recurring, savings, or current accounts. When you deposit foreign currency into the account, it gets converted to Indian rupees. Without any issues or limitations, you can move your money (principal and interest amount) from an NRE account to a foreign account. The money you put into these accounts must be generated outside of India.

NRO Account To handle their money received in India, non-resident Indians (NRIs) maintain current or savings accounts in India. Account customers have easy access to deposit and manage their rupee funds. You can receive money from the account in either foreign or Indian currency. You and a local Indian or even an NRI may jointly apply for an NRO account. You can even move money from your existing NRE account. However, TDS (Tax Deducted at Source) applies to the interest you earn in this account. Withholding Tax at the Source (TDS).

Difference between NRE and NRO accounts If you’re an NRI who wants to secure your earnings in India or is searching for a dependable means to send money to your family in India. If you’re looking to open a bank account in India, you’ve come to the correct spot. Here are the key distinctions between an NRE and an NRO account to assist you trade money in a safer and more comfortable way.

CLICK ON LINK TO READ FULL ARTICLE HERE: https://glcwealth.com/blog/nre-and-nro-account-meaning-benefits-difference/

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Getting Back Lost Shares, Dividends Now Made Easier

So far, around Rs 200 crore has been restored to the rightful claimants to whom the funds belong.

One of the oldest vexing issues in equity investing, that of lost money and shares, is well on its way to getting solved with the establishment of a digital process for recovering old dividends and shares by the Investor Education and Protection Fund Authority (IEPFA).

Read Full Article HERE

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A Proper Guide to Recovering Lost Share Certificates

Discover the comprehensive process of obtaining duplicate share certificates in India, essential for shareholders safeguarding their ownership amidst changes and losses. This guide navigates the drawn-out procedure, ensuring investors reclaim their assets effectively. Read full Article here: https://glcwealth.com/blog/proper-guide-recovering-lost-share-certificates/

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HOW LONG IS A WILL VALID FOR?

VALIDITY OF WILL

According to Section 2 (h) of Indian Succession Act, 1925, “Will” means the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.

A will is a legal piece of document in writing that enables an owner of a property (testator) to transfer his property to any person of his choice, where in the transfer takes place only after the death of the testator irrespective of the fact as to when the will was made. In legal terminology, this process of transferring property through the probate of will is regarded as ‘Testamentary Succession’.

In Testamentary Succession, the transfer takes place on the whims and fancies of the Will-maker or testator and not by the operation of law. By the virtue of will, a testator can vest his estate in the name of any person of his choice who will inherit all the properties named in the will once the testator dies. There can be one or more persons named in a will as per the discretion of the will-maker. In case of more than one person, the testator can specify the ratio of division of the property amongst the heirs but if he fails to do so then it is generally divided in equal proportions to every legal heir mentioned in the will.

HOW LONG IS A WILL VALID FOR?

As a general rule, a will is valid if it is written voluntarily by the real owner in relation to his legally owned assets and properties under no force or pressure.

The real question arises as to for how many years a will is said to be valid and effective? A will exists in perpetuity and is valid for time-immemorial after the death of the testator and there is no bar on its enforcement. The beneficiary in whose name the will is written gets an indefinite right to get it executed anytime after the death of the testator as the will remains valid for time immemorial. There is no expiry date in case of Will and no authority can enforce a restriction or limit on the time period of execution of will.

DO WILLS EXPIRE?

A will once made cannot expire suo-moto (on its own). The only way a will can expire is when the testator revokes his own-made will or makes a new one declaring the previous one void/invalid. If the same is not declared, then also the newly made will always prevails over the older one(s). A will can also expire if it is proved in the court of law that the will was made under coercion, force, pressure or undue-influence as it would amount to fraud and as an exception to rule of law, ‘fraud vitiates everything’. In case of fraud being proved, it makes the will void-ab-initio (invalid from the inception) and it will be deemed that the will expired or was never made at all.

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