No, it is not legal to transact in a deceased person's Zerodha account. Indian law prohibits transactions in accounts belonging to deceased individuals. If you are a nominee or legal heir, you can claim the funds and securities by transferring them to your own demat and bank accounts after submitting the required documents.
Things to keep in mind
- Transacting in a deceased person's account constitutes impersonation and may result in penalties or criminal charges under Indian law. This restriction applies to market transactions, off-market transactions through gifting and transactions using DIS slips.
- If a transaction occurs in the deceased's account after the date of death mentioned in the death certificate, the transmission process will be delayed due to increased scrutiny.