6 documents you need to open a demat account

Pramila Deshpande
2 min read
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A demat account is essential for trading in the stock market in India. You can open a demat or dematerialization account with a Depository Participant (DP), such as a bank, stockbroker, or financial organization.

You need to submit certain documents to open your demat account, and the list of mandatorily required documents is mostly standard across DPs. You need to ensure the provided documentation is valid on the date of submission and has not crossed the expiry date.

What Documents Do You Require to Open a Demat Account?

To open a demat account, you need to submit:

  • Proof of identity

  • Proof of address

  • Proof of income

  • Proof of bank account

  • PAN card – Mandatory unless you are specifically exempt from obtaining a PAN.

  • Three copies of passport-sized photographs

List of Documents Admissible as Proof of Identity

You can submit any of the below documents for your identity proof:

  • Unique Identification Number (UID), which includes Aadhaar card / voter ID card / passport / driving license.

  • PAN card

  • Identity card with applicant’s photo issued by any of the following agencies –

    • State or Central Government and its departments

    • Public Sector Undertakings (PSUs)

    • Regulatory / statutory bodies

    • Universities or colleges affiliated with universities

    • Public financial companies or scheduled commercial banks

    • Recognized professional bodies, such as ICWAI, ICAI, ICSI, and Bar Council, to their members

List of Documents Admissible as Proof of Address

If your permanent and correspondence address is the same, you need to submit only one proof. However, if they are different, you need to provide valid proofs for both addresses. Acceptable documents include:

  • Voter ID

  • Passport

  • Driving license with photograph

  • Registered agreement of the house for sale or lease

  • Insurance paper

  • Maintenance bill

  • Electricity bill (of the past three months)

  • Utility or telephone bill

  • Bank account statement or passbook

  • Proof of address attested by bank managers of scheduled co-operative banks, scheduled banks, notary public, gazetted officers, elected representatives of Parliaments (MP) or Legislative Assembly (MLA.), or documents issued by a statutory or government authority.

List of Documents Admissible as Proof of Income

  • Copy of ITR (Income Tax Return) submitted to the Income Tax department

  • Salary slip or copy of Form 16 Net Worth Certificate

  • Net Worth Certificate certified by a chartered accountant (CA) or a copy of annual accounts audited by a certified CA

  • Last 6 months’ bank account statements reflecting income

  • Demat account-holding statement with a depository participant

  • Other documents that can substantiate the ownership of the asset through self-declaration along with supporting documents

List of Documents Admissible as Proof of Bank Account

  • Cancelled cheque of the bank you wish to link with your trading account (with your name above the ‘sign here’ section)

  • Bank statements of the respective bank

Your DP may ask for additional certificates as identity, address, or income proof. Once all your documents are submitted and verified by the concerned departments, your DP will open your demat account, and you will be all set to trade.

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