income proof for derivatives

[shubh9890]

I am a student and i want to trade in F&O , but i don’t have income proof as I am a student. Is there any way i can trade derivatives .

[half-life]

Presently you only have to send past six months bank statement to zerodha for trading F&O.
However, this rule might be changed in the near future.

Check the link below for further details:

Derivative exposure based on Income tax returns for retail traders - Outcome from latest SEBI board meeting

There has been talks of SEBI coming up with regulation to reduce derivative exposure for retail traders. Find below from SEBI board meeting held today. Unlike what was expected, lot sizes aren’t being changed. To reflect global initiatives on product suitability, a framework has been approved. Individual investors may freely take exposure in the market(cash and derivatives)upto a computed exposure based on their disclosed income as per their Income Tax Return(ITR) over a period of time. For…

[p_bhanu_ganesh]

I’m an employee of a US company (Getting salary in USD and other perks as per US company laws) but I’m in India on deputation for 3 years (Keep flying to US time to time). I have newly opened bank account.

Can I submit my payslip (salary in USD) as a income proof to activte FNO?

[ShubhS9]

@p_bhanu_ganesh

Can I submit my payslip (salary in USD) as a income proof to activte FNO?

Hi, are you an Indian National or American?

[p_bhanu_ganesh]

Indian

[ShubhS9]

If you already have Zerodha account you can upload your pay slip as Income proof.

If you don’t have account you can open one online, you can read this post to know the process.

If you want to open NRI account you can read this for more information.

[samurai]

If I upload income proof as 6 month bank statement of a bank which is different from the bank account linked with Zerodha, will that be accepted? Both bank accounts are in my name.

[ShubhS9]

@samurai

If I upload income proof as 6 month bank statement of a bank which is different from the bank account linked with Zerodha, will that be accepted? Both bank accounts are in my name.

Yes, it will be accepted. The bank account need not be linked to your trading account. Just make sure the bank account is in your name.

[SachinSingh]

Whenever I try to update the income proof on console, initially it gets updated, but when you visit it later on, it doesn’t show the ‘pending’ status as it should and goes back to the initial status as before. Took the screenshot when I did it yesterday & today

And this is the present status:

Have created a ticket for this ( #20211223895662 ), but no solution. This has happened in previous years as well, please advice what to do, @ShubhS9 & @nithin.
CC: @VenuMadhav

[lindo]

@SachinSingh

Whenever I try to update the income proof on console, initially it gets updated, but when you visit it later on, it doesn’t show the ‘pending’ status as it should and goes back to the initial status as before. Took the screenshot when I did it yesterday & today

We’re working on revamping this page to include the status of the request placed along with a few other changes. The team has processed your request and the a confirmation of the same is sent to you on your registered email.