SEBI directs Investors to link PAN with Aadhaar before Sep 30

SEBI - Aadhaar - PAN - Investors - Taxscan

The Securities Exchange Board of India ( SEBI ) has directed the investors to link PAN with Aadhaar before September 30th, 2021.

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 of July 01, 2017, shall become inoperative if it is not linked with Aadhaar by September 30, 2021, or any other date specified by CBDT.

Since, PAN is the sole identification number for all transactions in the Securities Market, in view of the said CBDT notification, all SEBI registered entities including Market Infrastructure Institutions (MIIs) should ensure compliance of said notification and accept only operative PAN (i.e., linked with Aadhaar number) by the client while opening new accounts post September 30, 2021, or any other date specified by CBDT. Also, all the existing investors are advised to ensure linking of their PAN with the Aadhaar number prior to Sept 30, 2021, or any other date specified by CBDT for continual and smooth transactions in the securities market and to avoid any consequences of noncompliance of said notification on their transactions in the securities market.

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