Now, you are all excited about stock trading and can't wait to dive into this amazing world, but you still don't know how to start, as it requires PAN Card requirements which is necessary. Do not let your fears win us, because you're about to explore if there's a solution to get you on the path to investing without speed bumps!

Every Indian who holds a PAN card should secure an account with a depository without it being a prerequisite. It is the way to the stock market and other trading agents in India. But what if you got one of the few who were rejected because of the absence of a mythical thing?

It was maybe not what I expected, but there was a little light at the end of the tunnel. Even though most of the trading platforms insist upon a PAN card as a compulsory document for demat account opening the reason being, regulatory compliance, however, some work towards providing alternative solutions. Few dealers may simultaneously ask for another identification document, like a Voter ID Card, Aadhaar Card or even a passport PDF for commencing the process of creating a new demat account.

But remember that the when, how, and where you divulge this news are critical. Though the removal of the requirement for a PAN card might make you feel like you are allowed to take shortcuts, you have to be aware, compare your options and make sure that your trading agent is genuine and well-reputed. Maintaining the safety of your private data and keeping up with regulatory compliance is by far the most critical factor.

Therefore, PAN card is Mandatory for demat accounts because the details of the people who open demat accounts are verified using PAN to avoid fake accounts, tax evasion among others so as to link such accounts with the various revenue authorities.

ADVERTISEMENT