Surname and middle name mix up in PAN and/or Zerodha

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Let's assume my name is Anand Basant Chauhan.
My PAN is XXXXC9999. My ITR name is ABC.

My name as per Zerodha is Anand Chauhan Basant.
Zerodha says that they queried the PAN database for my details when I applied and got ACB, instead of ABC.
For correction of name, I need to submit updated PAN.
I submitted an application for PAN name change to ABC, just in case. This has been processed. No change can be seen (to be fair, cannot tell because it is the Display name).
However, the name on TRACES and Zerodha are still ACB.

For anyone who is wondering, this means my stocks are in the name of ACB and dividends are being issued to ACB.
For the dividends which come in the form of cheques, banks refuse to deposit since the account is in the name of ABC.

How do I get Zerodha to correct my name? TRACES and Zerodha are the only 2 places which have mixed up my middle name and surname.

Has this happened to any one else? What did you do?

 

[Anupama_Jha]

My name as per Zerodha is Anand Chauhan Basant.
Zerodha says that they queried the PAN database for my details when I applied and got ACB, instead of ABC.
For correction of name, I need to submit updated PAN.

So does it mean Zerodha told you they won't update name in their database, instead they told you to update name in your docs ??

I submitted an application for PAN name change to ABC, just in case. This has been processed. No change can be seen (to be fair, cannot tell because it is the Display name).

Display name ?

Have u changed your name only in display but not in database. I mean, let's understand my example.

My name on Aadhar is Anupama, but on PAN it was Anupma, due to which I started facing issues. So I gave request for name update, but forgot to tick checkbox on nsdl website, which resulted in change in only display name, but not in database. Hence, I have to spent ₹108 again. (Sed life)

However, the name on TRACES and Zerodha are still ACB.

One thing you can do is, change name in PAN back to ACB using Zerodha account statement and tranfer* all assets to another broker.
*Temporarily or permanently, decision can be yours.

Then request closure of both accounts.

I don't know whether you can open Zerodha account again, so pls cross check that.

 

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So does it mean Zerodha told you they won't update name in their database, instead they told you to update name in your docs ??

Yes, Zerodha said there must be a name mismatch in PAN database, so change that and then submit documents for Zerodha to correct.

Have u changed your name only in display but not in database. I mean, let's understand my example.

Display name and name as per PAN change details application were ABC. I do not know whether the original PAN application name was ABC or ACB. But, the display name on PAN card was and is ABC.

Then request closure of both accounts.

What is the advantage in opening the second broker account? Why not just close Zerodha then?

My burn-everything-down solution is to sell all Zerodha holdings, if nothing else works.

 

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One thing you can do is, change name in PAN back to ACB using Zerodha account statement

Why? My name in all other places is ABC, not ACB.

 

[Anupama_Jha]

Display name and name as per PAN change details application were ABC. I do not know whether the original PAN application name was ABC or ACB. But, the display name on PAN card was and is ABC.

If your pan application for new/changes have been processed through NSDL, call them and ask whether ur display name and database name is same or not.

What is the advantage in opening the second broker account? Why not just close Zerodha then?

I told this bcs, many people aren't ready to switch brokers.

My burn-everything-down solution is to sell all Zerodha holdings, if nothing else works.

Yess, the no-nonsense method is this only.

 

[JigmeKhesar]

A lot of financial institutions are acting arbitrarily.

My wife's Zerodha account got something similar. The account was opened back when it was all offline and you needed to mail them the forms.

The PAN is in her maternal name, while the bank account and aadhaar are in the married name. The account was opened with the married name as we provided the marriage certificate.

A few years later they started displaying her maternal name when we login to the app and even on the contract notes. But it hasn't affected the account. No issues with any corporate actions.

Axis Bank issued her a card with the same set of documents while CSB - Jupiter refused to accept the documents for KYC.

I think of getting her PAN updated to the married name to avoid any issues in the future.

 

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So I gave request for name update, but forgot to tick checkbox on nsdl website, which resulted in change in only display name, but not in database.

I don't remember this. But might have happened. I will try this if NSDL says change is only in Display name.
Thanks!

If your pan application for new/changes have been processed through NSDL, call them and ask whether ur display name and database name is same or not.

This is great advice. Seems obvious now, but I am emailing them right now. Thanks!

 

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If your pan application for new/changes have been processed through NSDL, call them and ask whether ur display name and database name is same or not.

This worked to confirm the name. Email to TIN-NSDL bounced. So I called the PAN helpline as on the NSDL website.
They confirmed that my name as per IT database is ABC.

So now, I shall submit account modification form to Zerodha and won't take any more backtalk from them.
I was unsure if it was a problem with my PAN till now.