SEBI Requests investors to Link PAN with Aadhaar

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Studycafe | Sep 5, 2021 | Views 726689

SEBI Requests investors to Link PAN with Aadhaar

SEBI Requests investors to Link PAN with Aadhaar

According to Central Board of Direct Taxes (CBDT) notification G.S.R 112(E) dated February 13, 2020, a person’s Permanent Account Number (PAN) allotted on July 1, 2017 will become inoperative if it is not linked with Aadhaar by September 30, 2021 or any other date specified by CBDT.

Because PAN is the sole identification number for all transactions in the Securities Market, all SEBI registered entities, including Market Infrastructure Institutions (MIIs), should ensure compliance with the said CBDT notification and accept only operative PAN (i.e., linked with Aadhaar number) by the client when opening new accounts after September 30, 2021.

Furthermore, all existing investors are advised to ensure that their PAN is linked to their Aadhaar number before September 30, 2021, or any other date specified by CBDT, to ensure continuous and smooth transactions in the securities market and to avoid any consequences of non-compliance with said notification on their transactions in the securities market.

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