Ease of Doing Investment - Smooth transmission of securities from Nominee to Legal Heir

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....epository Participants through Depositories Madam / Sir, Sub: Ease of Doing Investment - Smooth transmission of securities from Nominee to Legal Heir 1. SEBI has streamlined the process of appointing nominee. The nominee acts as a Trustee of the securities of the original security holder and transfers the securities to the legal heir as per succession plan. 2. As per existing procedure....

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....ngly, in order to streamline the process of transmission of securities from nominee to legal heir and resolve the abovementioned issues related to taxation, it has been decided that a standard reason code viz. "TLH" shall be used by the reporting entities while reporting the transmission of securities from nominee to legal heir, to the CBDT so as to enable proper application of the provisions of t....