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.
- 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
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Shubham Goyal
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.
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