Zerodha may request clients to update their income details via email or Kite notification for the following reasons:
- As part of the Prevention of Money Laundering (PMLA) surveillance, if your transactions in your Zerodha account exceed the income details you declared earlier, you must update your income details to continue trading or investing.
-
Periodic review of clients' financial information
(WEB)
and proofs
(PDF)
as per SEBI guidelines to allow continued trading in the derivatives segment.
- Yearly Update of Income Details for Clients of Special Category (CSC) as part of enhanced due diligence.
- Politically Exposed Person (PEPs) must submit income proof while opening an account due to their classification as Clients of Special Category (CSC).
How to update your income proof
To update the income proof, follow these steps:- Visit signup.zerodha.com/rekyc/income.
- Click on Continue with Kite.
- Login with Zerodha credentials.
- Click on Authorize.
- Select Income Slab.
- Select Income Proof (Optional)¹.
- Accept the undertaking.
- Click on Continue.
What happens after you submit
Zerodha notifies you through email or Kite when you need to update your income proof. Your account may be deactivated if you fail to complete the process.
When you update your income proof:
- You receive an acknowledgement confirming your submission
- Zerodha processes your request within 72 working hours
- You receive a confirmation email once approved
If Zerodha rejects your income proof, you receive an email explaining why your proof was rejected and which alternative proofs you can use.
Did you know? The Kite notification banner remains visible until you update your income proof.
Notes
¹ You can submit any of the following as income proof
-
A Bank statement
with the bank logo and seal
in the name of the Zerodha account holder for the last 6 months with an average balance of more than ₹10,000.
- Latest salary slip with gross monthly income exceeding ₹15,000.
- Latest ITR acknowledgement with gross annual income exceeding ₹1,20,000.
- Latest Form 16 with gross annual income exceeding ₹1,20,000.
- Certificate of net worth more than ₹10,00,000.
- Latest statement of demat holdings with current holdings value exceeding ₹10,000. (Your holdings must not be pledged)
- Latest Fixed Deposit (FD) receipt with a deposit amount exceeding ₹1,00,000.