When submitting your income proof, it is essential to have the right documents for your request to get approved.
Documents required as income proof
Any one of the following documents are accepted as income proof are:
Bank statement of the last six months
Latest salary slip
Income Tax Return
Demat holding statement
Form 16
Net Worth Certificate
Before submitting any one of the above income proof documents, keep the following guidelines in mind:
Bank Statement
Bank statements should be of the latest 6 months (180 days)
In the bank statement for the last 6 months,either of opening balance OR closing balance OR min. one transaction should be above Rs.5000.
Applicant's name, bank account number, bank name should be visible on the bank statement
Bank logo or bank stamp should be present on bank statement
Overdraft bank account can be accepted as income proof
Closing Or opening balance should not be negative.
Bank account category should be Savings or current where the current account can be ONLY on an individual applicant’s name
For single account - Name on the bank statement should be the same as the name registered with your Upstox account
For joint account - Name of the either holder on bank statement should be the same as the name registered with your Upstox account.
Salary Slip
Anyone from the latest 3 months
Applicant’s name should be visible
Company name/logo should be visible
Net or gross salary should be ₹5000 or above
Income Tax Returns
ITR of the latest financial year is acceptable
Name should be clearly visible and should match with the registered name on Upstox
PAN should be clearly visible
Assessment should be present and it should be of the latest two years
Computation is required. Only acknowledgement will not work
The ITR acknowledgement number is required
Demat Holding Statement
Name on the DP holding statement should be clearly visible and should be the same as the registered name on Upstox
DP holding statement must be of the last 3 months
Holding value should be above ₹5000 (Irrespective of the Broker)
The company Logo/Stamp should be clearly visible.
Form 16B
Form 16B should have both, Part A and Part B
The name and PAN of the employee should be clearly visible
The name and PAN of the employer/deductor should be clearly visible
The assessment must be of the 2 most recent years
Computation and acknowledgement on Form 16B is required
Authorised signature must be attested on Form 16B either in physical or a digital format
Networth Certificate
Should be of the latest net worth (Not older than 6 months)
Should contain applicant’s name
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Please note: The income proof file should be in PDF format and under 5 MB in size.