What are the documents required for demat account

demat account

A Demat account performs exactly like a bank account. Through the Demat account, the investor holds and can transact his or her securities and financial instruments were as through banking, the user holds and transacts his or her money.  The procedure to open a Demat account online and the list of mandatory documents to register the account is also the same across various firms and institutions.

 List of Documents to Open a Demat Account:-

  • Proof of Identity (POI) (Eg.: Driving license)
  • Proof of Address (POA) (Eg.: Passport)
  • Proof of Income (For trading in derivatives such as F&O) (Eg.: Copy of ITR Acknowledgement)
  • Proof of Bank Account (Eg.: Cancelled Cheque)
  • PAN Card
  • 1 to 3 passport size photographs

Here is the complete directory of documentation that is required to Open a Demat Account.

The list of documents required as Proof of Identity (POI) to open a Demat account is:-

  1. PAN card with a current photo. This is a necessary need for all candidates except for the people who are explicitly excluded from acquiring PAN (recorded in “Exclusions/Clarifications” to PAN area)
  2. Unique Identification Number (UID) (Aadhaar/Passport/Voter ID card/driving permit)
  3. Identity card/document with candidate’s photograph, given by any of the accompanyings: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges subsidiary to Colleges, Member IDs by Professional Bodies, for instance, ICAI, ICWAI, ICSI, Bar Council, etc and Credit Cards/Debit Cards gave by Banks

The list of documents required as Proof of Address (POA) to open a Demat account is:-

  1. Visa/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance charge/Insurance Copy.
  2. Service charges like Telephone Bill (just landline), Electricity bill or Gas bill – Not over 90 days old.
  3. Bank Account Statement/Passbook – Not over 90 days old.
  4. Self-declaration by High Court and Supreme Court judges, giving the new address regarding their accounts.
  5. Confirmation of Address given by any of the accompanyings: Bank Managers of Scheduled Commercial Banks, Scheduled Co-Operative Bank or Multinational Foreign Banks/Gazetted Officer/Notary public/elected agents to the Legislative Assembly or Parliament/Documents gave by any Government or Statutory Authority.
  6. Identity card/document with address, given by any of the accompanyings: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges subsidiary to Universities and Professional Bodies, for example, ICAI, ICWAI, ICSI, Bar Council and so on, to their Members
  7. For FII/sub-account: Power of Attorney report given by FII/sub-record to the Custodians (which are properly legally approved) that specifies the enrolled address.
  8. The evidence of address for the sake of the life partner might be acknowledged.

Note: Documents having an expiry date should be legitimate on the date of accommodation.

The list of documents required as Proof of Income* to open a Demat account is:-

  1. A copy of the Income Tax Return (ITR) Acknowledgment slip was submitted to the Income Tax Department during tax filing.
  2. A Net worth Certificate is certified by a Chartered Accountant; on the other hand, a copy of the Annual Accounts is properly inspected by a certified Chartered Accountant.
  3. Verification of Salary as a new Salary Slip or significant docs which demonstrates pay or total assets like form 16.
  4. A statement of Demat account holdings with a qualified Depository Participant.
  5. The current bank account statement states the income history of the client for the last 6 months.
  6. Other documents that validate ownership of assets through self-statement besides your documents support the claim.

Exemptions/clarifications to PAN*

  1. In case of transactions undertaken on behalf of Central Government and/or State Government and by authorities selected by Courts for example Official outlet, Court recipient and so forth
  2. Financial Investors dwelling in the territory of Sikkim.
  3. UN elements/multilateral offices excluded from settling charges/documenting assessment forms in India.
  4. SIP of Mutual Funds up to Rs. 50,000/ – p.a.
  5. If there should be an occurrence of institutional clients, in particular, FIIs, MFs, VCFs, FVCIs, Scheduled Commercial Banks, Multilateral and Bilateral Development Financial Institutions, State Industrial Development Corporations, Insurance Companies enrolled with IRDA and Public Financial Institution as characterized under section 4A of the Companies Act, 1956, Custodians will confirm the PAN card subtleties with the original PAN card and give properly certified copies of such checked PAN details to the go-between.

Note: Sufficient document proofs in support of such cases to be gathered.

List of persons approved to attest the docs:

  1. Legal official Public, Gazetted Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation, and Seal should be affixed on the copy)
  2. If there should be an occurrence of NRIs, approved authorities of abroad parts of Scheduled Commercial Banks enlisted in India, Notary Public, Court Magistrate, Judge, and Indian Embassy/Consulate General in the nation where the client dwells are allowed to confirm the archives or documents.

Aside from these records, the Depository participant or your specialist could request that you present extra verification for identity, address, and pay. When every one of the records is submitted, confirmed, and checked by the concerned divisions, your account will be opened.

Conclusion:

Keep all your documents ready with you so that it takes no longer than a few minutes to open your account. With SMC Global Securities, you can upload the scanned documents to their account opening website directly.

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