InvestorQ : I do not have a PAN number. Can I offer anything else as document for opening demat account?
Katherine Gonsalves made post

I do not have a PAN number. Can I offer anything else as document for opening demat account?

Answer
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NISHA Nayak answered.
2 years ago


Please, note that the PAN card and the PAN number is one of the basic documentation required for opening a demat account. It is not like you are giving the PAN as your proof of identity. No, the PAN card and your photograph are your necessary submissions with your demat account application form. You will not be permitted to open a demat account unless you have a registered PAN card and PAN number. Apart from quoting the PAN number, you are also required to submit a copy of your PAN card with self-attestation to your DP while opening an account. Proofs of residence and proof of identity are required outside of the PAN card, which is a compulsory document. But what if you do not have a PAN card? Does it mean that you cannot open a demat account? Not necessarily!
For those who do not have a PAN card, there is a way out. You can opt to apply for a fresh PAN card to the Income Tax department in a form which is called Form 49. Once you have filled in this application form, you will be given an acknowledgment. This acknowledgment of Form 49 can be offered to the DP as proof of having applied for a PAN Card. This is good enough for you to open a demat account and once your demat account is opened and active you can always submit a copy of your PAN card once it is mailed to you. Remember, PAN cards take nearly 10-15 days to reach you. Basically, this ensures that you do not lose out on the opportunities to open a demat account just because you do not have a PAN card. Form 49 is a good way to apply even when you do not have a PAN card.