Nhai tax relief bonds

Nadig Kumar (Querist) 22 September 2021 This query is : Resolved
After the death of the investor, nominee is the trustee of the bonds till it matures. In case the nominee also expires before the maturity and the investor already deceased, what happens to the bonds after the maturity? Is there any provision for the nominee to nominate when he is alive in case of tax relief bonds? I am 64 years old and my wife who is the nominee now, is aged 55 years. After my death, whether my wife who is the nominee can further nominate my son? Pl clarify.

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kavksatyanarayana (Expert) 22 September 2021
In my view, No sir. The legal heirs shall produce a "succession certificate' to be obtained from the Court concerned and then the bank hands over the same to the legal heirs.

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