How can I open a HUF account with Definedge Securities?

Answer 1

Opening a HUF (Hindu Undivided Family) account with Definedge Securities is a straightforward process, and it can be completed in a few steps. Here’s a step-by-step guide to help you through the process:

Step 1: Gather Necessary Documents

Ensure you have the following documents ready for submission:

HUF PAN Card: You need to obtain a PAN card in the name of the HUF.

Karta’s PAN and Aadhaar Card: The Karta (head of the family) manages the HUF account, so their documents are essential.

HUF Deed: A formal HUF declaration document stating the creation of the HUF and naming the Karta and members.

Address Proof: Utility bills, bank statements, or Aadhaar cards of the HUF and the Karta.

Passport-sized Photographs: Recent photos of the Karta and other family members involved.

Step 2: Contact Definedge Securities

Visit the Definedge Securities website or reach out to their customer support.

Request the HUF account opening form and other relevant documents.

You may also schedule a call for guidance on the process.

Step 3: Fill and Submit the Forms

Carefully fill out the account opening form.

Provide the necessary KYC documents.

Ensure the form is signed by the Karta and all co-parceners (members of the HUF).

Step 4: In-Person Verification (IPV)

As per SEBI regulations, an IPV may be required.

You can complete this through a video call or in-person at a nearby Definedge branch.

Step 5: Fund the Account

Once your account is approved, you can fund it using a linked HUF bank account.

Ensure the bank account is in the name of the HUF and operated by the Karta.

Final Tips:

Keep copies of all documents for future reference.

Consult with your financial advisor or a chartered accountant for any tax-related queries.

By following these steps, you’ll be able to open a HUF account with Definedge Securities without any hassle. Good luck with your investments!