I got email from Zerodha recently asking to update income proof… was just curious why do need to submit this??
Hi @YS_Bhargav, a broker will request for an income proof in one of the following instances:
- At the time of activation of any derivative segment. The broker is also required to review the details every year and collect an income proof if the client continues to remain active in the derivative segment.
- If there are any surveillance alerts generated on the account for which there’s a need to check further. You can check the Point 4 of this circular.
- In case the transactions exceed the previously provided income details and as part of conducting adequate due diligence. Page No. 10 here.
Please ensure your latest income range details are updated with the broker. We’ve explained the process for updating the details here.
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