Demat Account Opening Documents | Motilal Oswal

1. Demat Account Opening Documents What Is Demat Account? Demat Account Opening Documents

2. What Is Demat Account? • A Demat account is a tool that enables a person to preserve the electronic form of the physical shares while also converting them. A Demat account is required when you need to trade or hold/store stocks, securities, or other capital market-related investments, just as we need a bank account for our online transactions and to store our money. The Demat account can be used to buy and sell shares both offline and online. The Demat account, which functions similarly to our bank account in holding all electronic certificates of financial instruments, is a requirement for trading in the stock exchanges.

3. Demat Account Opening Documents Following are the demat account opening documents. • Proof of identity:Any government-issued identification with a picture is acceptable. Driving licenses, passports, voter ID cards, aadhaar, etc. are a few examples. • Proof of address: for instance, a passport, a current utility bill, an Aadhaar card, etc. Your spouse's address proof is also acceptable. • Proof of income: Only if you wish to engage in certain specific types of trades, such as derivatives, futures, and options, is this necessary. If these are the investment options you choose, these are essential documents needed to start a Demat account. You can be required to provide documentation of your income in the form of recent tax returns, bank statements, etc.

4. Proof of bank account: This paperwork must be submitted in order to open a Demat account. A recent bank statement or cancelled check can be sent to the depository participant creating your account. • PAN card: Along with other documentation required for the Demat account, your permanent account number must be attached. This enables the income tax division to monitor for potential tax evasions. • Photographs: You might be asked for 1-3 current photos, depending on your broker.

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