Dear All,
In the following scenario THIRD PARTY DECLARATION required or not?
1. Investment minor through guardian----
2. Guardian --- Mother
3. Mother investing on her Son’s Name
4. Cheque signed by mother – name is also printed in the cheque. ( Payment from mothers bank a/c)
5. Application signed by mother
6. Mother name mentioned in the Son’s birth certificate
7. Investment amount Rs.2000/- per SIP
Regards
Barathwaaj
5 comments:
Yes, in the above referred instance, the third party declaration form is very much needed duly signed by the guardian(mother).
If the money was getting invested from the minors account itself then the question of third party declaration does not arise at all.
Yes, Kiran said is absolutely correct. Since money is not thru Minor's A/c, 3rd Party declaration is required.
- Santosh Roy, Mumbai
only if bank account for payment is minor through guardiaN , 3rd party declararation not required. In all other cases 3rd party declaration is needed.
As the payment is going through Mother's account and not from Minor a/c Third party Declaration is required.
Dharampal Chugh
Third party declaration is required.
umesh vora
Ahmedabad.
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