What is the importance of record dates to units held in demat form?
In case the Units bought by you are yet to be transferred into your account by your broker before the record date, you will not be entitled to receive corporate benefits such as dividend since your name will not figure in the list of beneficial owners. Hence, you must ensure that units bought by you are transferred into your account before the record date announced by the Fund. • Is STT applicable for the units, which will be listed? No. Though the units will be listed on the stock exchange STT is applicable to only equity shares and equity oriented funds. On debt securities there is no STT. • What if I close my existing demat account and open a new demat account, what will happen to my FMP units? The unit holder will have to fill out a transfer instruction for delivery (TIFD), which he will have to submit to the DP where he will have a new account. • Do dematerialized units have distinctive or certificate numbers? No. In demat all units are fungible, which means that any unit of an IS
In case the Units bought by you are yet to be transferred into your account by your broker before the record date, you will not be entitled to receive corporate benefits such as dividend since your name will not figure in the list of beneficial owners. Hence, you must ensure that units bought by you are transferred into your account before the record date announced by the Fund.
In case the Units bought by you are yet to be transferred into your account by your broker before the record date, you will not be entitled to receive corporate benefits such as dividend since your name will not figure in the list of beneficial owners. Hence, you must ensure that units bought by you are transferred into your account before the record date announced by the Fund. • Is STT applicable for the units, which will be listed? No. Though the units will be listed on the stock exchange STT is applicable to only equity shares and equity oriented funds. On debt securities there is no STT. • What if I close my existing demat account and open a new demat account, what will happen to my FMP units? The unit holder will have to fill out a transfer instruction for delivery (TIFD), which he will have to submit to the DP where he will have a new account. • Do dematerialized units have distinctive or certificate numbers? No. In demat all units are fungible, which means that any unit of an IS
