uTrade AlgosNo, it is not mandatory for all HUF family members to provide their KYC documents when opening an HUF account with Share India. The KYC process is required only for the Karta, who acts as the representative and decision-maker for the HUF. The Karta is responsible for submitting the account opening forms along with necessary documents, including the Karta’s PAN card, proof of identity, proof of address, and the HUF deed (a document establishing the family structure), HUF declaration form, with HUF sign & seal on each document, during the account opening process.
However, the situation changes in the event of Karta’s demise or transfer of account to any of the coparceners due to any reason . In such cases, one of the coparceners (family members entitled to a share in the HUF) may assume the role of the new Karta. When this happens, the new Karta will need to undergo the KYC process to update the HUF account. To initiate this process, the new Karta can contact Share India’s support team for guidance.
Here’s how to get in touch with Share India:
- Phone: Call our support team at 18002030303.
- Email: You can also email them at support@shareindia.com for assistance.
Our support team will guide you through the steps required to complete the KYC process and ensure that all necessary documents are submitted correctly.Check out our website. Under the Form Downloads section, you’ll find an important list of forms and documents required to update your HUF account and initiate the KYC process.