Multiple demat accounts

#1
Hi
I want to know that if we open another demat account is it compulsory to provide information regarding our old demat account??
What documents to submit in support of old accounts.
Thanks
 

vijayanscbe

Well-Known Member
#2
Hi
I want to know that if we open another demat account is it compulsory to provide information regarding our old demat account??
What documents to submit in support of old accounts.
Thanks
No need.

Even if you had multiple accounts, IT can easily track with PAN :p
so only PAN is must while opening demat.
 
#5
There is no restriction on opening demat accounts. One can open and operate as many demat accounts as he wishes.

For opening trading accounts with 2 or more brokers one has to disclose the previous trading accounts account details such with which broker etc.

All trading accounts and demat accounts information goes to tax authorities through the exchanges and DPs as all are tagged to your PAN ,so nothing is hidden from the taxmen...

2 demat accounts are preferable and one can keep his investment shares in one account and trading shares in another account so that both are clearly separate and identifiable so that there is clarity when you file your IT returns and show LT capital gains and trading income.

Smart_trade
 

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