A Demat account resembles a bank account. Just like a bank account reflects the monetary transaction, the Demat account demonstrates the movement of shares held. A Demat account can be opened by producing the relevant required documents in the manner suggested. These documents are the ones that are commonly required across banks, brokers, and other financial organizations which cater to online trading. You need to ensure the authenticity and validity of the following required documents:
1. Personal details:
The list of documents required to be furnished as proof of-
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Identity-
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- PAN card: This is mandatory for all applicants except those who are specifically exempt from obtaining a PAN card (as listed in the Clarifications/Exemptions to PAN). The applicant must submit a valid photograph as an admissible proof.
- Unique Identification Number (UID): This could include your Aadhaar card, Passport, Voter ID card or your driving license
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- Identity that has applicant’s photo for attesting document issued by any of the following agencies : The departments of Central and State Government
- Regulatory/Statutory Body
- Undertakings in the Public Sector
- Public Financial Companies or Scheduled Commercial Banks
- Universities or colleges affiliated to universities
- Members from professional bodies like Institute of Chartered Accountants of India, Institute of Cost and Management Accountants of India or Institute of Company Secretaries of India or The Indian Bar Council, among others, can issue for their members
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Address-
- Passport (check for the date of expiry)
- Voters ID card (with the valid photograph)
- The registered sale or lease agreement of the house
- Driving licence with photograph
- Maintenance bill
- Insurance paper
- Utility or telephone bills
- Electricity bills (older than three months are not accepted)
- Passbook/Statement of Account (Bank)
- Address proof as attested by the bank managers of scheduled banks or scheduled co-operative banks or gazetted officer/notary public/elected representatives of legislative assemblies (MLAs)/elected members of parliament (MPs)
- Documents that are issued by the Central or State Government and its departments
- Statutory/ Regulatory bodies
- Public Sector Units (PSU companies)
- Scheduled commercial banks or public financial companies.
- Authorized universities (or colleges affiliated with universities)
- Professional bodies like Institute Chartered Accountants of India, Institute of Cost and Works Accounts India, The Indian Bar Council, can issue it for their members.
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Bank and income details:
Following are the documents that you will have to produce for verifying the bank account number, IFSC code and income details of the applicant-
- List of documents required Income Proof:
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- A hard copy of the acknowledgment slip for the Income Tax Return (ITR) that was sent to the Income Tax Department during the Tax Filings
- Salary Proof: a recent Salary Slip or relevant document which proves income or net worth like Form 16
- A Net Worth Certificate by a Practising Chartered Accountant; or a photocopy of the Annual Accounts duly audited by a Practising CA
- Present statement of bank account showcasing the history of income of the client for the previous six months
- Demat account holdings statement with an eligible Depository Participant
- Other documents that substantiate ownership of assets through self-declaration along with documents supporting the claim
- Personalized cancelled cheque
- Documents to substantiate ownership of assets
- Bank Account Statements of last 6 months
- Power of Attorney or POA
- List of documents as proof of bank account:
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- Cancelled cheque leaf.
2. List of people who are authorized to attest the documents:
Attestation can be done only by the few officials mentioned below-
- A Gazetted Officer, Notary Public, Manager of a Scheduled Commercial/Cooperative Bank or Multinational Foreign Banks. Ensure that the applicant has incorporated the Name, Designation and office seal affixed on the copy
- In case the applicant is an NRI, authorized officials of the overseas branches of Scheduled commercial banks registered in India, Court Magistrate, Judge, Notary Public, and Indian Embassy/Consulate General in the country where the client resides
Apart from the listed documents, the DP or the broker/bank of the applicant might also ask for additional certificates for either income, address, or income proof. The DP of the applicant opens the Demat account once these documents are verified and submitted.
Disclaimer – ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. – ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai – 400 025, India, Tel No : 022 – 6807 7100. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
