What are the Documents Required for Opening an Demat Account?

Documentation is not an easy task; one has to be clear what are all the documents that must be needed at the time of opening a demat account. 

A Demat account is a trading account, and you will discover which papers are necessary to start a trading account. You may also open a demat account over the internet as there are multiple platforms that are offering online methods to open a demat account. You may create a Demat account with a variety of companies and financial institutions. Majority of the companies require the same documents. 

• Identity proof

  – Identity proof is very crucial when it comes to opening a demat account. A PAN Card is a required document that every applicant must furnish. This document is not necessary for candidates who are excluded from getting PAN cards. Other identity cards, such as the Aadhar card, can also be used in this location as a document for identity verification.

• Address proof

  - Documents containing valid address information, such as a passport, voter ID, driver's licence, flat maintenance bill, and insurance copy. Passbook or bank account statements, but they shouldn't be older than three months. Even addressing documentation in your spouse's name is acceptable. Identity cards are distributed by organisations like the federal and state governments. Documents serving as proof of address include those produced by bank managers of listed commercial banks, listed cooperative banks, or listed multinational foreign banks, as well as by a gazetteer or notary.

• Evidence of Income

  - The papers listed below are acceptable as proof of income when opening a Demat account. You can provide a photocopy of your ITR. Photocopies of your yearly reports that have been audited by a competent CA. Proof of income in the form of a wage slip or papers proving your income. A bank account statement that reveals your earning history.

• Bank Account Documentation

  - One of the documents required to create a Demat account is proof of a bank account. As verification of your bank account, you might present a cancelled cheque leaf. Apart from the above-mentioned documents, one also requires a number of passport size photos. You must upload or send passport-sized photos. If you establish a Demat account online, you must upload a photo to the website.

A demat account is of great importance as people can invest and trade easily. Demat account opening is an easy task if people follow the correct procedure to open their accounts. You can open your Demat account right away here at ShareKhan without facing any issues. ShareKhan offers a user-friendly platform to open a demat account.

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