Demat accounts are similar to other bank accounts, but they can be used to hold securities or other financial instruments. The process to open a Demat account online is nearly identical across all institutions and firms. Therefore, the required documents to register the account are also the same. These are the different types of documents that are required to open a Demat account:
Photo ID (POI) Driving license
Evidence of address (POA): Passport)
For trading in derivatives like F&O, proof of income (Eg. Copy of ITR Acknowledgement
Evidence of bank account (Eg. Canceled cheque
PAN Card
1 to 3 passport-sized photographs
This is a detailed list of documents required to open a Demat account.
Proof of Identity (POI) is, List of documents that can be used as proof of identity
PAN card with valid photo. This is a mandatory requirement for all applicants except those who are specifically exempt from obtaining PAN (listed in the “Exemptions/Clarifications” to PAN section)
Unique Identification Number (UID) (Aadhaar/ Passport/ Voter ID card/ driving license)
Issued by any of these: Central/State Government with its Departments and Statutory/Regulatory Authorities; Public Sector Undertakings; Scheduled Commercial Banks; Public Financial Institutions; Colleges affiliated to Universities. Member IDs are issued by Professional Bodies like ICAI, ICWAI, or ICSI. Banks issue Credit Cards/Debit Cards
Proof of address (POA): A list of documents that can be used as proof of address
Passport/Voters Identification Card/Ration card/Registered Lease Agreement of Residence/Driving Licence/Flat Maintenance Bill/Insurance Copy
Utility bills such as Telephone Bill (only landline), Electricity Bill, or Gas Bill – No more than three months old
Bank Account Statement/Passbook – Not older than 3 months
Self-declaration by Supreme Court and High Court judges, giving a new address for their accounts
Any of the following can issue proof of address: Bank Managers of Scheduled Commercial Banks or Multinational Foreign Banks/Gazetted officer/Notary public/Elected representatives of the Legislative Assembly/Documents issued from any Government or Statutory Authority
Issued by any of these authorities: Central/State Government, its Departments, and Statutory/Regulatory Authorities; Public Sector Undertakings; Scheduled Commercial Banks; Public Financial Institutions; Colleges affiliated with Universities and Professional Bodies like ICAI, ICWAI, and ICSI to their Members
For FII/sub-accounts: A Power of Attorney document that is given by FII/subaccount to Custodians (which have been duly notarized, apostilled, or consul raised) and which mentions the registered address
Acceptable proof of address may be in the name and signature of the spouse
Notice: Documents with an expiry date must be submitted on the date they were received.
Documents admissible for Proof of Income
Photocopy of the Income Tax Return (ITR) Acknowledgement Slip submitted to the Income Tax Department during tax filing
A certified Net Worth Certificate by a Chartered Accountant. Alternately, a photocopy of the Annual Accounts duly reviewed by a qualified Chartered Accountant.
A recent Salary Slip, or another document that proves income and net worth such as Form 16 is sufficient to show proof of salary.
An account statement showing Demat account holdings for an eligible Depository Participant
The client’s income history for the last 6 months is shown on the current bank account statement
Additional documents to support the claim and self-declaration that can be used to prove ownership of assets
Exemptions/Clarifications to PAN*
Transactions for the Central Government or State Government, and officials appointed by Courts (e.g. Official liquidator, Court receiver, etc.
Sikkim is home to many investors.
UN entities/multilateral agencies are exempt from paying taxes/filing tax returns in India.
SIP of Mutual Funds Up to Rs. 50,000/- p.a.
For institutional clients, namely FIIs and MFs and VCFs and FVCIs and Scheduled Commercial Banks and Multilateral and Bilateral Development Financial Institutions and State Industrial Development Corporations, State Industrial Development Corporations and Insurance Companies registered under section 4A, Companies Act, 1956, Custodians must verify the PAN card details and provide certified copies to the intermediary.
Not required: Documentary evidence supporting such claims must be available.
Liste of persons authorized to attest documents
Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy)
NRIs can have documents attested by authorized representatives of Scheduled Commercial Banks overseas branches registered in India, Notary public, Court Magistrate, and Judge.
The Depository participant, or your broker, may ask for additional proof of identity, income, and address. Your account will be open once all documents have been submitted, verified, and checked by the relevant departments.
