The last date for doing KYC of demat account is also 30th June. If KYC is not done then the demat account will be deactivated. With this you will not be able to trade in the stock market. Even if a person buys shares of a company, then these shares will not be able to transfer to the account.
New Delhi . Many rules will change from July 1st. Information about all these is necessary or else you may be harmed. One of these rules is also related to Demat account. Demat account means the account with which you buy and sell shares. The last date for doing KYC of demat account is also 30th June.
If KYC is not done then the demat account will be deactivated. With this you will not be able to trade in the stock market. Even if a person buys shares of a company, then these shares will not be able to transfer to the account. This will be done only after KYC is completed and verified.
What information is required
Every demat account is required to do KYC with 6 details, but not all demat accounts have been updated with 6 KYC norms yet. A demat, trading account holder is required to update these 6 KYC features. Which includes name, address, PAN, mobile number, valid email ID, income limit. All 6-KYC norms have been made mandatory for new demat accounts opened from June 1, 2021.
How can do KYC?
Stock brokers are advising their clients i.e. demat trading account holders to get KYC done to prevent demat account from deactivating. Almost all brokerage houses are providing online KYC facility. Apart from this, you can also get KYC done by visiting the office of the brokerage house.
Link Aadhar-PAN
If you have not yet linked your Aadhar card with PAN, then do it soon. If you link your PAN with Aadhaar on or before June 30, you will have to pay a fee of Rs 500. On the completion of PAN-Aadhaar link on or after July 1, a charge of Rs 1,000 will have to be paid. You can easily link Aadhar card with PAN through Income Tax Portal yourself. Apart from this, you can also get this work done by visiting Aadhaar Seva Kendra.
