How to get KYC/PAN compliant in the Market- Here's the way.

Investorline

Info-Center

Dear Investor,

We would like to take this opportunity to inform you about certain compliance requirements that have come into effect this year.

1. Permanent Account Number (PAN) is compulsory for all Unit Holders w.e.f 01 January 2008, for any investment.

  • PAN & PAN card copy are mandatory for all investments irrespective of amount
  • Form 49A / Form 60/61 will not be accepted and transactions are liable to be rejected.
  • In case of Minor, PAN & PAN card copy of Guardian are required, even if the Minor holds a PAN Card
  • Change Form acknowledged by Income Tax for any changes being made in PAN card will be acceptable.

2. Know Your Customer (KYC) compliance is compulsory for all investments w.e.f 01 February 2008.

  • All investors (including guardians, joint holders, NRI’s and power of attorney holders) need to complete the process of KYC by submitting a duly filled-up KYC application form along with photograph, photocopy of PAN card and proof of address for individuals or corporate documents for bodies corporate, in accordance with the Prevention of Money Laundering Act, 2002, Rules issued there under and related guidelines/circulars issued by SEBI.
  • Completion of the KYC process is mandatory for any investment, whether by way of first time purchase or subsequent purchase, if the investment is for a value of Rs. 50,000 or more

Investors will need to submit the following at the designated ‘Point of Service’ Centers of CDSL Ventures Ltd (CVL) for one-time completion of PAN and KYC formalities.

  1. Completed KYC application form : •Individual •Non Individual
  2. Recent passport-size photograph to be affixed on the form
  3. Copy of PAN card
  4. Prescribed documents for proof of address / constitution.

Please note that the above documents need to be in the form of either:

  1. A self attested copy along with originals (originals will be returned across the counter after verification) or
  2. A copy attested (in original) by a notary public/gazetted officer/manager of scheduled commercial bank (designation seal to be affixed)

The POS official will issue investors a KYC acknowledgement letter across the counter after verifying the KYC documents.

Please submit a copy of the KYC acknowledgement letter along with the fresh investment application form / additional purchase request or along with a covering letter containing the folio number for updating of PAN/KYC compliance.

In order to continue transacting smoothly with us, we request you to ensure that the necessary compliance requirements are met. For further clarifications please visit contact us or any Investment Service Center / your distributor.

Investorline

Mobile- 9213326572

Email- indiainsured@aol.com

Comments

Post a Comment

Popular posts from this blog

Modest gains at Wall Street

28 Jan 2009 | 09:31 Modest gains at Wall Street stocks at Wall Street managed a steady end with some modest gains on Tuesday, 27 January, 2009. Though stocks dealt with a couple of worse thane expected earning reports since morning, the indices have managed to stay in the green for the entire session. Crude prices dropped drastically today. After being up by more than 80 points earlier during the day, The Dow Jones Industrial Average ended higher by 58 points at 8,174, the Nasdaq closed higher by 15 points at 1,504 and the S&P 500 closed higher by 9 points at 845. While the financial and technology sectors led today, consumer discretionary and telecom sectors were the laggards for the day. In the earning arena today, Dow component Verizon met expectations. Market is looking forward to AT&T's quarterly report tomorrow. American Express reported better than feared earnings and the company reported th
Read more

Contact Us

You may direct all your Mutual Funds & Insurance related to queries and filled Application Forms (download Mutual Fund Scheme Application Forms & CAF) and with supporting documents at Rajesh Kumar Mutual Fund Advisor Investorline Services D-16/261, Sector-7, Rohini, New Delhi-110085 Phone- 9213326572 Email- indiainsured@aol.com Supporting Documents required along with Mutual Fund application Form- Cheque ( amount you wish to invest) / Demand Draft in the name of Mutual Fund Scheme (as mentioned in the Application Form) Self Attested copy of PAN Card Address Proof (Latest Telephone bill, Latest Electricity bill, Passport, Driving License, Latest Bank Passbook, Latest Bank Account Statement, Latest Demat, Account Statement, Voter Identity Card, Ration Card, Registered Lease/ Sale Agreement of Residence at) Identity Proof: PAN Card (Mandatory Requirement), Passport, Voter's Card, Driving License, UIN Card, Photo Ration Card, Photo Debit Card (Issued by Bank) KYC Verifica
Read more

Budget 2008- What you can Expect

Budget 2008 – Expectations   --Life may be less taxing after Budget – --FM may hike STT, says NSDL's Tilak --Brokerage expectations from 2008/09 budget --BPO industry seeks separate identity --Drug cos seek cure for R&D in the forthcoming budget --Animation & gaming companies want STPI-like tax break for exports --Textile machinery sector needs a booster dose --Dismantle tax on house construction: Urban Housing Ministry --Consumer durable makers for lower indirect taxes --Plantation cos look for rejuvenation package --Budget 2008: Govt should allow 100% FDI in retail --Lotus Mutual CEO expects, at best, mildly positive Budget --Excise, interest rate cuts to improve manufacturing: FICCI --Brainstorming with ET: Great minds on Budget     Life may be less taxing after Budget – NEW DELHI: Finance Minister P Chidambaram might spread cheer all around with Budget 2008-09, the last full-fledged Budget of the UPA government. A hike in the inco
Read more