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I received an email from Zerodha asking me to update my income proof. What do I do?

You would have received this email because Broker/Trading members must periodically review financial details and proofs to allow clients to continue trading in the derivatives segment, as per exchange guidelines.

To update your income proof visit console.zerodha.com/account/proofs and follow the instructions below:

  1. Select your income range.
  2. Upload your income proof¹ and enter the file password² if any.


Notes

¹Any one of the below documents will be accepted as income proof:

  1. Bank statement for the last 6 months with an average balance of more than ₹10,000. (Statement must be in the name of the Zerodha account holder.)
  2. The latest salary slip with gross monthly income exceeding ₹15,000.
  3. ITR acknowledgement with gross annual income exceeding ₹1,20,000.
  4. Form 16 with gross annual income exceeding ₹1,20,000.
  5. Certificate of net worth more than ₹10,00,000.

You can upload a soft copy of any one of the above-mentioned income proofs in PDF, JPG, JPEG and PNG formats only.

²If you are uploading a PDF please ensure that you enter the password in the 'File password' field. You will not be able to upload multiple files as proof on this page. You have to either upload a .zip file containing the multiple proof files or merge the pdfs and upload a single file. See How do I upload multiple files as financial proof during online account opening or in Console?

We will send the approval/rejection status via SMS and e-mail. If the financial proof you have uploaded is rejected, you will have to re-upload another financial proof.

If you fail to submit your latest financial proofs, it could lead to the temporary deactivation of segments.

Why does Zerodha collect the latest income proof?

As per this SEBI Circular on Anti-Money Laundering , stockbrokers are required to ensure that your latest income details are available to support your trading activity.

Zerodha is also required to collect financial proof from all clients intending to trade in the F&O segment (including Commodity derivatives). Refer to page 3 of this SEBI annexure ( PDF ).


Such financial proofs are to be reviewed periodically as per exchange guidelines( DOC ).