Want to invest jointly with spouse or family? A Joint Demat account allows 2 or 3 holders to own the same securities. Here is everything you need to know.
Types of Joint Holding
- Either or Survivor: Any holder can operate. On death of one, survivor becomes sole owner.
- Jointly: All holders must sign for every transaction. Rare.
- Anyone or Survivor: Any can operate. Similar to Either or Survivor.
Maximum Holders
Up to 3 holders allowed per SEBI. First holder is the primary (PAN used for tax).
Documents Required
For EACH holder separately:
- PAN card
- Aadhaar card
- Photograph
- Signature
- Bank details (only first holder's bank is linked)
- KYC completed individually
Opening Process
- Apply online or in-person (most brokers support both)
- All holders complete individual e-KYC
- Choose joint holding type (Either or Survivor recommended)
- Primary holder's bank is linked
- E-sign by all holders
Tax Implications
First holder's PAN is used for capital gains tax. Even if 2nd/3rd holders are involved, tax liability is on 1st holder.
Gift tax may apply if securities transferred from joint to single account.
Common Use Cases
- Husband + Wife: Either or Survivor - practical for couples
- Parent + Adult Child: Wealth transfer planning
- Siblings: Joint investment in family business or property
Joint vs Nominee - Different Things
- Joint Holder: Co-owner during lifetime
- Nominee: Takes over only AFTER death of all holders
Can You Change Holders Later?
Yes, but with conditions:
- Add a holder: Transmission form, all parties sign
- Remove a holder: NOC from the holder being removed
- Change order: Strict SEBI process
Zerodha Joint Account
Zerodha supports Either or Survivor joint accounts. Both holders complete online KYC. Click below to open.
