Why did Zerodha send an email asking to update the Tax Identification Number (TIN)?
The Income Tax Department (ITD) has requested Zerodha to collect a valid Tax Identification Number (TIN) from clients who have submitted incorrect or invalid TINs. A valid TIN is required to comply with the reporting requirements set by the ITD and to avoid penalties.
To update the Tax Identification Number (TIN), follow these steps:
- Login to signup.zerodha.com/rekyc/fatca.
- Click on Continue with Kite.
- Enter the city of birth and select the country.
- Click on Yes under Do you have any other country of tax residence?
- Select the country under Other country of tax residence.
- Enter the Tax Identification Number. TINs for all countries can be found by visiting oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/.
- Select the income details, occupation and political exposure. To learn more about political exposure, see Who is a Politically Exposed Person (PEP) and why must they submit income proof to open an account with Zerodha?
- Enter the personal details.
- Tick the checkboxes to provide consent.
- Click on Continue.
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