New Delhi: Capital markets regulator SEBI on Friday asked investors to link their PAN with Aadhaar number by September 30 for continuous and smooth transactions in the securities market.
Failing to comply with this, the Permanent Account Number (PAN) card of an individual will become inoperative, which means incomplete Know Your Customer (KYC) details.
The development came by the Central Board of Direct Taxes through a notification in February 2020, which stated that the PAN of the allotted person would become inoperative by July 1, 2017 if it is not linked with Aadhaar by September 30, 2021, or any Any other date specified by CBDT.
Since, PAN is the sole identification number for all transactions in the securities market, in view of the CBDT notification, all SEBI registered entities including market infrastructure institutions should ensure compliance with the notification and accept only operative PAN (linked to Aadhaar number) . When customers open new accounts after September 30, the regulator said in a press release.
Also, all existing investors were asked to ensure to link their PAN with Aadhaar number before 30th September for continuous and smooth transactions in securities market and to avoid any consequences of non-compliance of notification on their transactions in securities. Is. Market.
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