Transfer of Securities held in Physical mode- Clarification

SEBI has clarified the following regarding the transfer of securities held in Physical mode

1. Investor may continue to hold the shares in physical form even after April 1, 2019. However any investors who wants to transfer the shares (which are held in physical form) after April 1, 2019 can do so only after the shares are dematerialised.

2  The Transfer deed(s) lodged prior to deadline and returned due to deficiency in the document, may be relodged for transfer even after April 1, 2019.

3.  Investors can continue to demat their physical shares, transmission (i.e transfer of title of shares by way of inheritence/succession) and transposition (i.e. rearrangement/interchanging of the order of name of shareholders) in physical shares even after April 1, 2019.

(REF CIR NO NSDL/POLICY/2019/0019 DT. APRIL 1, 2019)

ACCIDENTAL DEATH & COMPENSATION

If a person has an accidental death and the person was filing Income Tax Returns for the last three years, then the government is obliged to give ten times the average annual income of the last three years to that person's family.

Yes, you will be surprised by this, but this is right and it is Government rule.

For example, if someone's annual income is 4 lacks, 5 lacks and 6 lacks in the Ist, 2nd and 3rd years respectively, its average income is ten times of 5 lacks, means 50 lacks rupees, family of that person is entitled to receive from the Government.

In the absence of much information, people do not take this claim with the Government. If any return is missing, mainly last 3 years, this could lower the claim amount or even no claim because court takes ITR as only evidence.

No wealth record  FDs, Business etc is giving that much importance as compared to ITR in the eyes of law.

Many a time, people do not file ITR regularly or it will be taken lightly. Due to lack of information the family receives no economic benefits.

(Source-Section 166 of the Motor Act,1988 (Supreme Court Judgement under Civil/appeal No 9858 of 2013 arising out of SLP(c)No 1056 of 2008 dt 31 Oct, 2013)