Is PAN card mandatory for mutual fund investment?

Can I invest in mutual funds without PAN card?

Conclusion. Investors who already have PAN can start investing in mutual funds. But investors who do not have PAN card and plan to invest in mutual funds then he or she can do so by applying for a new PAN card. Once they get the PAN card their investment in mutual funds can start.

Can we invest in SIP without PAN?

Documentation: Micro SIPs are exempt from the requirement of PAN or KYC documentation. However, a copy of a photo identification document, such as the Aadhar card, voter ID or driving licence, issued by the government, needs to be submitted and verified with the originals.

What are the documents required for mutual fund?

Documents acceptable as proof of address:

  • Unique Identification Number (Aadhaar)
  • Passport.
  • Driving License.
  • Ration Card.
  • Voters Identity Card.
  • Registered Lease/Sale Agreement of Residence.
  • Flat Maintenance bill.
  • Utility bills like Gas bill, Telephone bill (only landline) or Electricity bill, maximum 3 months old.

What is PAN in mutual fund?

Mutual Fund (MF) investors will not only face trouble while making any investment, but also won’t be able to take out their own investment money, if their Permanent Account Number (PAN) becomes invalid after June 30, 2021.

THIS IS INTERESTING:  Is rental property subject to net investment income tax?

Where can we invest without PAN card?

Instead of PAN, investors can use voter ID card, government ID card, card of reputed employer, driving license and passport, etc for KYC compliance.

Who is eligible for PAN card?

Students can apply for a PAN card as long as they are above 18 years of age. In case you are a minor (younger than 18 years old), your parents can apply for the PAN card on your behalf. There is no maximum age limit for application of PAN card. You can be of any age and still apply for a PAN card.

Why is PAN card required for investment?

The importance of PAN card

Your PAN number lets the Income Tax department link all financial transactions made by you. According to the IT Department, PAN is the sole identification for all financial transactions in the securities market, irrespective of transaction amounts.

How can I check my mutual fund by PAN number?

To request a Smart Statement please enter your PAN and registered email ID to receive the statement on your email ID. For a normal PDF statement select the radio button and enter your folio number to receive a copy of the statement on your registered email ID.

What is the proof of mutual fund investment?

Investment Proof: You can get investment proof for mutual fund investments by getting your statements from your distributor. Alternatively you can get a consolidated email statement for all your mutual fund investments, including your ELSS funds emailed to your inbox.

Is cheque required for mutual fund?

Typically, a blank cancelled cheque is not mandatory when you start your SIP these days. … However, if you are investing an amount by giving a cheque and wish to start an SIP starting from the next month, your first investment cheque is enough, even if you give both the forms together.

THIS IS INTERESTING:  Why am I getting less dividends?

Is KYC needed for mutual fund?

Know your customer (KYC) compliance is mandatory for investments in the financial markets. To be able to make any investment with mutual fund house, investors need to ensure that they are KYC compliant with respect to mutual funds.