INCOME TAX6 Sept 2026
Your nominee may be outdated: Check these financial accounts now to avoid family disputes later
From 1 September 2026, SEBI makes a nominee compulsory for single-holder demat and mutual fund folios; you can opt out. After marriage, divorce, or a new child, revisit your nominees. A new nomination replaces the old one. For EPF, an earlier nomination becomes invalid when marital status changes. Check bank accounts, fixed deposits, EPF, and insurance, and update them to prevent family disputes later.
Key Statutory Highlights
- SEBI's revised nomination rules take effect from September 1, 2026, making nominee choice compulsory for single-holder demat accounts and mutual fund folios, with an opt-out option.
- Mutual fund account holders can name up to three nominees and specify each one's share.
- An EPF nomination automatically becomes invalid when your marital status changes.
Actionable Advice for Taxpayers / Founders:Review and update nominee details now across all your financial accounts, especially after marriage, divorce, or a child's birth, to keep them aligned with your wishes.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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