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Can I open Demat Account without PAN Card?

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The PAN Card is mandatory to open a demat account. This is as per the SEBI circular MRD/DoP/Cir- 05/2007dated April 27, 2007. Irrespective of the investment size or objectives, an individual has to submit the PAN Card to open the demat account.

An exception is given to the schedule tribes belonging to certain parts of Northeast (Arunachal Pradesh, Mizoram, Nagaland, Manipur, Tripura and some areas of North Chachar Hills in Assam) in respect to income tax on their earnings. People from these tribes can open a demat account without PAN card if they are planning to invest a maximum of Rs 50,000 in Mutual Funds.

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1 Comments

1. Ashutosh   I Like It. | Report Abuse |   Link | Jun 25, 2020 11:10:48 AM Reply
If investing below 50000 then pan card is necessary.
1.1. Rupali   I Like It. | Report Abuse |   Link | Aug 11, 2020 3:23:44 PM
Yes

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  2. How do I transfer from one demat account to another demat account?
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  27. What is the Standing Instruction given in the demat account opening form?
  28. Can someone else operate my demat account on my behalf on the basis of Power of Attorney?
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  30. How many Demat Account can be added to my Trading Account?
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  37. What kind of help can I get if I have any problem with my NSDL Demat Account?
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  43. Are there any charges associated with Demat Power of Attorney?
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  53. Can I add another person to my demat account?
  54. Why do I need a demat account?
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  60. Can I open Demat Account without PAN Card?

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