Can demat account be open for zero income people?

105°
Deal Cadet
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Will nil itr be considered?

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There is no need for itr just pan & addhar

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U need to have PAN and Aadhar that’s it, no income proof needed.

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….yes sure….

….punters are ready to bite even flesh from the bones…

…jus kiddin…be an investor…not trader cum investor…

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MrKool_JJ wrote:

It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency

Let me know if you need my Zerodha ref wink

@demerius2020

And ofcourse i want to trade in all options

Whats my profit on ref?

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demerius2020 wrote:

And ofcourse i want to trade in all options

Whats my profit on ref?

I really don’t know what the referral scheme going on right now toungueout

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Further if zerotha is best or 5paisa can be trusted ?

5paisa didnt mentioned madatory before income docs

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demerius2020 wrote:

And ofcourse i want to trade in all options

Whats my profit on ref?

There is a reason companies ask for income proof/itr for trading in futures & options. This is the section which made even many crorepatis roadpatis in a few months/years. Of course there is also the income tax department notice if you start doing a few lakhs of intraday/FnO trades regularly(a few lakhs is considered as chump change btw for trading in these sections) while filing a zero/less than 2 lakh/simple itr-1(itr-3 is the one which every serious trader in these sections ends up filing in the end whether willing or not).
@still_guessing @bikidas2060 @MrKool_JJ @malikcool

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guest_999 wrote:

There is a reason companies ask for income proof/itr for trading in futures & options. This is the section which made even many crorepatis roadpatis in a few months/years. Of course there is also the income tax department notice if you start doing a few lakhs of intraday/FnO trades regularly(a few lakhs is considered as chump change btw for trading in these sections) while filing a zero/less than 2 lakh/simple itr-1(itr-3 is the one which every serious trader in these sections ends up filing in the end whether willing or not).
@still_guessing @bikidas2060 @MrKool_JJ @malikcool

There is reason for everything

Howver i am not asking for reason but solution

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demerius2020 wrote:

There is reason for everything

Howver i am not asking for reason but solution

Aren’t you salaried/earning income? Just give your real income proof then, as simple as that.

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guest_999 wrote:

Aren’t you salaried/earning income? Just give your real income proof then, as simple as that.

Ma-king account for someone else with zero salary and senior citizen

Ofcourse i want to save taxes and avail high intrest rate for senior citizen dont say its a crime now

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demerius2020 wrote:

Ma-king account for someone else with zero salary and senior citizen

Ofcourse i want to save taxes and avail high intrest rate for senior citizen dont say its a crime now

You tell me then, if the rule says you need income proof for trading in certain segments & the person does not have an income then what to do other than breaking the rule by submitting fake info.

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guest_999 wrote:

You tell me then, if the rule says you need income proof for trading in certain segments & the person does not have an income then what to do other than breaking the rule by submitting fake info.

Where it is written that you need to have regular income for jnvesting a person can get capital as gift

Rule like this if any will obstruct people to earn benefit on savings and exploring better option for investing espiacially senior citizen and retired people

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demerius2020 wrote:

Where it is written that you need to have regular income for jnvesting a person can get capital as gift

Rule like this if any will obstruct people to earn benefit on savings and exploring better option for investing espiacially senior citizen and retired people

Tell this to those who got bankrupt while trading in these segments, if you are so sure then file a case in court against sebi but until then you have only 2 options: either follow the rule or break the rule(by submitting fake info).

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