Best SIP Funds to Invest Online
You can gift shares by transferring them directly to the recipient's demat account. Fill up the delivery instruction slip mentioning the name and demat account number of the recipient and the scrips to be transferred. The execution date must be mentioned. The recipient in turn has to fill out a receipt instruction with relevant details and submit it to his depository participant.
The shares received from your depository participant will be credited to his demat account once the receipt instruction is received. Since shares are movable property, it is not mandatory to execute a gift deed. However, to create a legal record, it is best to execute a gift deed on an appropriate stamp paper. If the shares are in physical certificate form, a share transfer deed will have to be executed and sent to the registrar of the company.
The procedure for gifting mutual funds is a little different. Unlike shares, mutual fund units cannot be simply transferred from one person to another, except on demise of the unit-holder. Also, mutual funds don't accept payments from third-parties. One cannot invest in a mutual fund using a cheque issued by another person.
However, third-party payments are accepted by mutual funds in case of payment on behalf of a minor. So, parents, grandparents and other immediate family members can invest via mutual funds in the name of minor children. But there are a few restrictions: The donor has to submit a declaration, specifying details of bank account from which payment will be made and the relationship with the minor. This will need to be signed by the legal guardian of the minor.
SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich - Best ELSS Funds
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