Market regulator Securities and Exchange Board of India (SEBI) has reminded investors to link their Aadhaar number with Permanent Account Number (PAN) before September 30, 2021 for continued transactions.
As per a directive by Central Board of Direct Taxes (CBDT), PAN not linked with Aadhaar will become inoperative after September 30. Since the former is the sole identification for investors in securities market, this would create problems for them.
“As per Central Board of Direct Taxes (CBDT) notification G.S.R 112(E) dated February 13, 2020, the Permanent Account Number (PAN) of a person allotted as on July 01, 2017, shall become inoperative if it is not linked with Aadhaar by September 30, 2021 or any other date specified by CBDT,” SEBI said in a press release on Friday.
The market regulator also ordered all entities registered with it, including market infrastructure institutions (MIIs), to ensure compliance of the CBDT directive and accept only operative PAN linked with Aadhaar from clients while opening new accounts after September 30, 2021.
“Also, all the existing investors are advised to ensure linking of their PAN with Aadhaar number prior to September 30, 2021 or any other date specified by CBDT for continual and smooth transactions insecurities market and to avoid any consequences of non-compliance of said notification on their transactions in securities market,” SEBI added.
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