Sebi eases securities transfer, introduces TLH code; simplifies nominee-to-legal heir process
Markets regulator Sebi on Friday announced a simplified framework for transferring securities from a nominee to the legal heir, aimed at reducing unnecessary tax and compliance hassles.Under the current system, such transfers were sometimes treated as “sales” and assessed for capital gains tax, even though Section 47(iii) of the Income Tax Act, 1961, exempts them….