can we open demat account without pan card

No, a PAN card is mandatory for opening a Demat account, as per the Securities and Exchange Board of India (SEBI) regulations. The Permanent Account Number is a crucial document used by the Income Tax department to monitor and track financial transactions in the securities market. You must provide a self-attested copy of your PAN card to complete the Know Your Customer (KYC) process. A few specific exceptions exist, such as: