How to Find Demat Account Number from PAN?

Are you an investor in the Indian equity market and are trying to find your demat account number? A Demat account number is a unique 16-digit code assigned to each Demat account. It is a combination of DP ID and Client ID.

In this blog, we will discuss how to find the Demat account number using the PAN card and the significance of having a PAN Card in your Demat account.

What is the Demat Account Number?

The Depository Participant or DP, working with Central Depository Services (India) Limited (CDSL) or National Securities Depository Limited (NSDL), assigns a unique identifier to each demat account when you open one. The Demat Account number can uniquely identify the Demat account holding stocks, bonds, and other securities kept in electronic form. 

The significant features of the demat account number are as follows –

1. Unique Number – The demat account number is a unique 16-digit number that guarantees accurate tracking of securities. 

2. Access – You will need this number to get access to your Demat account.

3. Issuing Authority– The depository participants partner with NSDL and CDSL and issue the Demat Account number.

4. Role – A Demat account number is used for accurate settlement of buy, sell, and transfer transactions.

How to Create a Demat Account Online?

The procedure for opening a Demat account online is easy and quick. The steps to do so are as follows: 

1. Choosing a Broker – Choosing the right broker for you is the first step, which can be accomplished by comparing the services provided by different brokers. 

2. Visiting the Website – Visit the depository participant’s website and click “Open an Account Online” or “Open a Demat Account” on the webpage. 

4. Entering your Details – Enter your email address, mobile number, and PAN card information. 

5. Verification – To confirm the information, an OTP will be sent to the email address and mobile number.

6. Filling the Form – Fill the form with the information mentioned below.

• Personal Details – Enter personal information, like your name, address, phone number, etc. 
• Financial Details – You will be prompted to provide your financial information, including your occupation and income bracket. ‘
• Nominee Details – Submit the nominee’s information. Nominees will receive securities held in the Demat account in the event of an investor’s untimely death.
• Bank Details – You must upload the bank’s details to transfer money, receive dividends, and receive payouts from your demat account. 
• Uploading Documents –  An essential stage in opening a Demat account online is uploading supporting documentation, such as proof of identity, proof of address, bank account information, etc. 
• Preview of Application – Check your completed application before moving on to the last step. If you discover any errors, fix them before continuing. 
• E-sign – You must e-sign the application using the Aadhaar OTP you will receive on your mobile phone. 
• Login Details – You will receive your Demat account details after all procedures have been completed and the DP verifies the information.  

How to Find a Demat Account Number?

There are several ways to locate one’s Demat account number, which are listed below.-

1. Trading Account – You may quickly check your demat account number by going to the profile section of your trading account. 

2. Depository Website – The depository participant’s website allows users to log in with their credentials, access their Demat account, and locate their Demat account number. 

3. Welcome Letter – Your demat account number is included in a welcome letter sent to you via email or postal mail by your broker or depository participant once you open a demat account. 

4. Statements – Depository participants send monthly or quarterly statements of your demat account’s holdings and transactions. These statements contain your Demat Account Number.

5. Customer Support – You can get your demat account number by contacting the DP’s customer service. 

How to Check a Demat Account Number from PAN?

The following are the fundamental procedures to verify a demat account number from a PAN: 

1. Visit the depository participant’s website.
2. Download the application form, fill it out, and provide your PAN as verification.
3. After finishing this procedure, you must submit a scanned copy of your identity and residence proofs and finish the KYC process.
4. The brokerage firm will conduct due diligence at their end.
5. After filling in your details, complete the two-factor authentication process to confirm your phone number and email address.
6. Then, you will be required to validate your bank account details and ECS payment methods.
7. After completing all the steps mentioned above, you will receive an email with your Demat Account number on your registered email ID.

Importance of a PAN Card in a Demat Account

A PAN Card is mandatory to open a demat account in India. It is of significant importance due to the points mentioned below-

• Simplifies Tax Filings – Through a PAN Card, all your transactions related to securities can be easily tracked, simplifying the process of calculating gains and filing income taxes.
• No Duplication – If your PAN Card is linked to your Demat Account it ensures that no duplicate accounts are opened in your name and prevents fraud.
• Consolidate Account Statement – A PAN Card is generally used to generate a Consolidated Account Statement (CAS), which provides you with a detailed overview of your holdings across different Demat accounts.
• IPOs & Corporate Actions– Having a PAN Card linked to your demat account is essential to apply for an IPO and corporate actions such as dividends, right issues, etc.

Advantages of PAN Card linked with a Demat Account

The major advantages of having a PAN Card linked with a Demat Account are as follows-

• Authorization – The transactions can easily be authorized as a PAN Card serves as an identity proof of the account holder.
• Validation of Tax Return– Generally, a bank account, Aadhar card, or digital key is used to validate your tax returns. This is only feasible if you have a demat account linked with your PAN Card.
• Bond Purchases – Investors can purchase gold bonds and other government bonds directly in a demat account by providing both PAN card number and demat account number.
• Loan against Securities – If your PAN Card is linked with your demat account, you can easily take loans on behalf of your holdings.
• Transparency – A PAN Card linked with your Demat Account makes your investment activities transparent and ensures proper reporting to tax authorities.

Conclusion

Keeping a record of your Demat Account number is crucial, but you can retrieve it easily with the help of your PAN card. A PAN Card is crucial if you want to invest in the Indian Securities Market because it offers a range of advantages for investors, such as easier tax filings, bond purchases, loans against securities, etc. 

Frequently Asked Questions (FAQs)