Key Points
Market regulator Securities and Exchange Board of India (SEBI), through its circular dated April 27, 2007, has mandated the requirement of PAN cards for individuals engaging in securities transactions in India..
While there's no restriction on the number of demat accounts an individual can open, all accounts linked to an individual are associated with a single PAN card...
While some seek alternatives to open a demat account without providing their PAN number, it's crucial to note that a PAN card is typically mandatory unless certain exemptions apply..
Additionally, entities falling under section 12 of the SEBI Act of 1992 are exempt from providing PAN cards for demat account opening..
Ultimately, a PAN card is a prerequisite for opening a demat account for both Indian citizens and NRIs, except in cases where exemptions apply..
