• PAN Aadhaar Name Initials Mismatch to correct or not for Zerodha / Upstox account creation

Recently while creating ac on Zerodha /Upstox I got error due to PAN aadhar mismatch error.The issue was full form Initials in PAN vs short form Initials in Aadhar.
Upstox has option to Upload Bank statement Letter with bank rep sign/stamp to complete process without change in Aadhar Initials to full form.My CA recommends to apply for Adhar name change.My issue is except Passport/PAN(IT Linked) all my other docs are short form initials(Driving License,Voter ID etc).I plan to invest stocks/mf regularly for long term (> 5 yrs) with swp option.Will it be OK to go with Bank letter update to invest higher amounts for long term without any issues or should I apply for Aadhar name change.
Asked 2 months ago in Income Tax

- Name should be same on both the documents irrespective of the format of the initials. Ideally the portal should not show any error due to difference in format of initials. You can upload the bank letter without going for change in any of the document

 

For detailed discussion you may opt for phone consultation 

Vivek Kumar Arora
CA, Delhi
4885 Answers
1069 Consultations

5.0 on 5.0

If you're facing a PAN-Aadhaar name mismatch issue for Zerodha/Upstox account creation, consider the following:

 

Immediate Solution: Bank Statement Update

Pros: Quick and easy to upload a bank statement with a bank rep's sign/stamp to resolve the issue.

Cons: Potential future verification challenges and issues with other financial services.

 

Long-term Solution: Aadhaar Name Change

Pros: Ensures uniformity across all documents, reducing future hassles.

Cons: Time-consuming and requires updating multiple documents.

 

Recommendation

Short-term: Use the bank statement update if you need to start investing immediately.

Long-term: Update your Aadhaar name to match your PAN for consistent documentation and fewer future issues.

 

For detailed, personalized advice, consider a phone consultancy.

Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.

Thank you.

Shubham Goyal

Shubham Goyal
CA, Delhi
269 Answers
4 Consultations

5.0 on 5.0

In the current scenario it is advisable to keep all documents with same name as everything is linked. Hence, it is advisable that you should decide what name you wish to keep and keep the same name everywhere or it may lead to issue in passport or refund form income tax etc etc.

 

Hope you find the information helpful, if yes do rate if 5 and provide your valuable feedback for my improvement.

Thank you.

Naman Maloo
CA, Jaipur
4288 Answers
98 Consultations

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