Representative Image (Image: Reuters) In July, as part of the pride month celebrations, Moneycontrol had explored the challenges faced by the lesbian, gay, bisexual, transgender, queer, intersex and asexual (LGBTQIA+) community in India while investing in financial products . September 6 marked the third anniversary of the path-breaking Supreme Court ruling that decriminalised homosexuality in India. While the legal path is clear for people of the LGBTQIA+ community in India, it's not that easy to claim financial benefits, if you identify yourself as the third gender. PAN A Permanent Account Number (PAN) is needed for getting a host of benefits: opening a bank account, buying an insurance policy and so on. Fortunately, the PAN application form allows you to identify as a third gender person. "The PAN application form provides for the selection of 'transgender' as the third gender in addition to male and female," says Homi Mistry, Partner, Deloitte Haskins & Sells. If you wish to change your gender later, it is possible without any documentary proof of gender identity as per the Director General of Income Tax (Systems). Close Bank Account Banks recognise only two genders: male and female. Although some foreign banks capture details such aw the… Read full this story
- Davis Student Scammed Into Giving Bank Account Information Over Instagram
- REVEALED: Patrick Frazee was named on fiancée's life insurance policy, claimed she had a booze and drug problem, and lied by saying she had 'signed away her rights' to their daughter, witnesses testify
- SC order on Essar Steel to bring certainty to resolution process in line with global practices: Ficci
- Jeffrey Epstein had a 'meticulously detailed' secret diary containing details of his friendships with powerful people which he kept as an 'insurance policy'
- SC orders round-the-clock security for 2 women who entered Sabarimala
- Foreign accounts: I-T Act in need of amendments for greater clarity
- PMC Bank crisis: Should you change your bank? Here's how to evaluate
- 'India's long-term outlook is good; invest in these 5 stocks for double-digit returns'
- For the NFL and all of football, a new threat: an evaporating insurance market
- Sabarimala: Temple portals to open at 5 pm, devotees begin trek
Can a third gender open a bank account, buy an insurance policy, invest? Not easy, even 3 years after SC’s order have 351 words, post on www.moneycontrol.com at September 12, 2021. This is cached page on CuBird. If you want remove this page, please contact us.