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Documents Required for opening Demat Account

A quick checklist for the documents required to open a Demat account listed below:

- Proof of Identity

- Proof of Address

- Proof of Income

- Proof of Bank Account

- PAN Card

- 1 to 3 passport size photographs

Here are the in-depth details of the documents needed to open a Demat account:


PAN Card

- As mentioned earlier, PAN Card is crucial to open a demat account. Also, a PAN card is a necessary document that all the applicants should submit except for the below-listed exclusion:

- Applicants who are residing in Sikkim

- Agencies or UN entities who are exempted from paying tax returns

- If you are investing only 50,000 PA in SIP of mutual funds

- If you are making transactions on behalf of the Central or State Government

- You must submit the supportive documents for any of the above claims.

 

Proof of Identity

- Provide one of the following documents as proof of identity.

- You can provide an Aadhaar card, Passport, Voter ID card, or driving license. In addition, many brokers like Dealmoney give you the option only to submit your Aadhar number and canceled cheque instead of separate identity and address proofs to make your process easy.

 

Proof of Address

- Any of the following documents is acceptable as proof of address.

- Documents like Passport, Voter ID, Driving License, Flat Maintenance bill, Insurance Copy with valid address details.

- Telephone Bill, Gas bill or Electricity bill not more than 3 months old

- Bank account statements or Passbook which should not be more than 3 months old

- Even proof of address in the name of your spouse is acceptable

- Identity cards issued by institutions like Central/State Government and its Departments, Statutory/Regulatory Authorities, Scheduled Commercial Banks, Public Financial Institutions, etc.

- Proof of address documents issued by Bank Managers of Scheduled Commercial Banks, Scheduled Co-Operative Bank or Multinational Foreign Banks, Gazetted Officer, Notary public, etc.

 

Proof of Income

- when you open a Demat account, the below-listed documents are allowed as proof of income. (For trading in derivatives and commodities)

- A photocopy of ITR, i.e., Income Tax Return, is acceptable

- Photocopy of Annual reports audited by qualified CA

- Salary slip or documents supports your proof of income

- Bank account statement which shows the history of your income

 

Proof of Bank Account

- To open a Demat account, you can submit a canceled cheque as Proof of Bank account.

 

Photograph/video

- Click and upload your live picture during your online e-KYC process. For the offline process submitting 2-3 photographs will be required.

- Now that you know about the documents required to open a Demat account, you can go to your account opening tab and open your Demat account.

 

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