Why is Zerodha asking for the income proof to be updated?
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 the transactions in the Zerodha account exceed the income details declared earlier, clients must update the income details to continue trading or investing.
Periodic review of clients' financial information
as per SEBI guidelines to allow continued trading in the derivatives segment.
- 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.
Clients are notified through email or Kite to update their income proof. Failure to complete the process could lead to the deactivation of the Zerodha account. When the income proof is updated, an acknowledgement is sent. Zerodha will process the request within 48 working hours and send a confirmation email. If the income proof is rejected, an email explaining why the proof was rejected and what alternative proofs can be used is sent.
Did you know? The Kite notification banner will not be removed until the income proof is updated.
¹ Income proof can be any of the following:
- 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.
- Form 16 with gross annual income exceeding ₹1,20,000.
- Certificate of net worth more than ₹10,00,000.
- Statement of demat holdings with current holdings value exceeding ₹10,000.