« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  `Revenue loss from SEZs still valid`... North Block for selloff in Hind Zinc... » PAN deadline prompts demat closures September, 20th 2006 Around 50,000 demat accounts were closed last month as the October 1 deadline for submitting permanent account numbers (PAN) for holding such accounts nears. National Securities Depository Ltd (NSDL) has seen the closure of over 25,000 accounts since mid-August, the first time there has been a net decline in the number of account-holders in a month. Another 20,000-25,000 accounts are estimated to have closed at Central Depository Services Ltd (CDSL) this month. CDSL officials, however, said new accounts had outnumbered closures. Industry sources said the closure of accounts would intensify over the next few days. The Securities and Exchange Board of India (Sebi) had directed depository participants to freeze all demat accounts from October 1 if the account-holders failed to provide their PAN details. The chief of a brokerage, which is also a depository participant, said accounts held by investors together with their wife or mother or children as joint accounts were the ones that were being closed the most. This is because all the beneficiaries of joint demat accounts are required to provide their PAN details for stock market trading from next month. Investors feel it is better to close such joint accounts held with their wives or mothers who do not have a fixed source of income rather than going through the hassle of getting a PAN card, he said. These investors have been transferring the holdings in joint accounts to their individual accounts through off-market deals. NSDL executives said the closure of some accounts was good as it cleaned up the system. We see this in a positive light. Several accounts, which are lying idle, will get closed, an official said. A CDSL executive said it was difficult to know if the closures were due to the PAN requirement or some other reason. Demat account closure instructions are given at the depository participant level (such as banks, stockbroking firms, financial institutions and custodians), where retail investors open demat accounts for dematerialised holdings and their transfers.