FNO trading activation , for unemployed

If one wants to activate derivative and commodity trading without fixed monthly source of income but enough cash fund in bank , what document he needs to submit to broker and is it the prerogative of the broker or there is some rule on it .

Financial proof: Apart from a bank statement(6 months), you can provide any of the following:

  1. Copy of ITR Acknowledgement (for last financial year)
  2. Copy of Annual Accounts (for the previous fiscal year)
  3. Copy of Form 16 in case of salary income (for last financial year)
  4. Net worth certificate (the latest one, or at the end of the previous financial year)
  5. Salary Slip (current)
  6. Copy of Demat account Holding statement (not more than three months old)

you just copy pasting but its not applicable , my query is something else with a sub query to it .

Dear @ajit_python,
You don’t need any INCOME proof just six month BANK txn is enough.
Simply declare your self as SELF EMPLOYED on KYC form.
you can open DERIVATIVE with any BROKER no problem.

:slight_smile:

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You don’t need any proof of income, just 6 months bank statement will do, doesn’t matter you transaction was 100 per month in that period or 100000 per month.

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thanks for reply . But what broker look in the transaction system ? or is it upto the broker .

It’s just a formality.
It’s doesn’t matter if TXN is simply ATM withdraw or any online TXn or etc.

:slight_smile:

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I doubt if brokers look at the transaction, why would they care what your source of income was? They don’t care if you got the money from salary, coaching students or by any other " " means. Obviously your account is in the radar of the “Income Tax” guys, if you are below the radar “Limit” I doubt anyone would have a problem but when there are possible “Flags” then the broker would be the least of your concerns. I have even seen people get IT notices, demanding proof and other show-cause notices regarding money or transactions dating back 7-8 years, despite filing ITR but those are rare cases. Real world scenario no one gives a :crying_cat_face: about you/anyone.

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