The Securities and Exchange Board of India vide circular no. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/130 has simplified the process of transferring securities from nominees to legal heirs by introducing a standard reason code ‘TLH’ and ensures exemption clarity under Section 47 of the Income Tax Act. This circular shall come into force from 01st January 2026. Please refer the circular for more details.