How to Find Your Demat Account Number from PAN Online

Over the last few years, the government and the Income Tax Department has been carrying on an aggressive campaign asking tax payers to link their PAN number with Aadhar number and also their PAN number to their demat account. The linking of PAN with demat is mandatory for the demat account to be functional. Did you know how to find demat account linked to pan number. There are several ways on how to check demat account with PAN issued by the Income Tax department.

In this segment let us find out how to find demat account linked to pan number, that is, how to search demat account by pan number and how the linkage can help you find one if you have the other piece of information. That would tell you how to check all demat account with PAN based on the underlying linkage. Here is how to find demat account number using PAN card. It is a fairly simple process. The PAN card is issued by the Income Tax department and linking to bank accounts, trading accounts and demat accounts is mandatory for the account to be functional.

How to check demat account with PAN

It often happens that you don’t remember your demat account details offhand, and you need to open the demat statement or the demat online account through a demat account app to check it. Quite often, most communication uses the masked demat account number for security reasons. In such cases, you can use your registered PAN (permanent account number) card issued by the Income Tax department to locate your demat account number. Here are some basic steps that will help you locate your demat account based on your PAN.

a) The first step of course is to open your demat account. For that you do it online. You only need to complete the application form with all requisite details at the portal of the DP of your choice. Normally, the broker also doubles up as your DP as that is a more convenient system. The online broker website can help with the next steps.

b)The next step to opening and configuring your demat account is to complete all the details concerned with the know your client (KYC) formalities like submitting identity proof and address proof upload it with application form.

c) Here it must be noted that apart from the proof of address and proof of identity, the individual is separately needed to submit PAN card and copy of cancelled cheque as proof of bank account. The PAN card is essential since all stock and profit / loss flows are tracked with the PAN card from day 1 itself.

d) In the case of offline, there are 3-4 days of due diligence involved before the account can be opened. However, in the case of online digital DP account, the KYC is instantly done through the Aadhar linking and only in-person verification is done after that.

e) Upon completing the account opening process, the investor has to confirm their digital details through a two-factor authentication method using the email ID and phone number and quite often a second level OTP authentication is also called for.

f) It must be noted that the PAN card is an important link to your DP and Trading account with your income tax filing. You can check the impact of this linkage in the Annual Information Report that is uploaded each year by the Income Tax department. Each and every transaction in trading account and in DP account with the relevant profits / losses are mapped to your income tax statement through the DP statement.

g) Since there is already a mapping of PAN card with demat account, the PAN is always mentioned on the top of any communication and that can be used to identify your demat account number. 

HOW PAN CARD ADDS VALUE TO YOUR DEMAT ACCOUNT

The linking of the demat account with the PAN card issued by the Income Tax authority is relevant in a number of ways.

• Firstly, the PAN card mapping gives a unique identification to the DP account and hence it cannot be misused so easily by anybody. With this number, you can verify ownership of your stocks and bonds.
• When you are looking to buy or sell shares from the demat account, the PAN card is the proof that you are the authorized person with respect to that demat account. It is quite often also used to verify signature on DIS.
• Having a demat account linked to PAN is mandatory, else it becomes automatically inactive. This linkage gives greater security to your demat account, especially considering they store shares on your behalf.
• A demat account linked to PAN can be useful if you are trying to get loans against shares. It normally is not permitted if the PAN card is not mapped to the demat account.
• Did you know that you can authenticate your tax returns using your digital key, Aadhar card, bank account or even your demat account. However, that is only possible with demat account if the demat account is mapped to PAN card, not otherwise.
• If you are seeking visa for the US or for UK or Schengen, the demat account can be an added source boosting your chances of visa. It is good if you have the demat account linked to PAN card
• Lastly, the RBI gold bonds and the RBI 8% bonds can be bought directly into the demat account. However, to register for this bond you need to submit your PAN card number and demat account number and that is where a mapped demat account will help.