I am in a difficult situation and would like to get help from this group. I lost both my parents to COVID earlier this year and am trying to figure out a way to handle their Demat accounts.
Here is my context:
- State: Pondicherry
- Number of heirs: 2 (me and my sister)
- Value of Demat accounts is between 25L to 50L
Would be great if you can help with the below questions:
It looks like I will need to obtain legal heir and succession certificates.
- What would be the stamp duty that need to be paid?
- Is this stamp duty calculated based on face value of shares or market value of shares? If it is market value, how is the valuation done as the price fluctuates daily?
- Is there any way to avoid or minimize this stamp duty?
- My parents have multiple Demat accounts with multiple shares in each. Is a single succession certificate obtained for all the accounts together?
- How is the lawyer fees determined for obtaining succession certificate?