March 20, 2023

All investors should link PAN with Aadhaar by March 31, otherwise there will be issues in transactions. All investors should link PAN with Aadhaar by March 31

Market regulator SEBI has asked all investors to link their PAN number with Aadhaar number by March 31 for seamless and smooth transactions in the securities market.


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Capital Markets Regulator: SEBI has issued a guideline to all investors to link their PAN with Aadhaar number. SEBI has said that all existing investors should submit their PAN before March 31, 2023, for continuous and smooth transactions in the market and to avoid consequences of non-compliance with the said CBDT circular. Aadhaar Number Connection must be confirmed. Since such accounts will be considered non-KYC compliant, there may be restrictions on securities and other transactions. Unless PAN and Aadhaar are linked.

As per the provisions of the Income Tax Act, 1961, it is mandatory for every person who has been allotted a Permanent Account Number (PAN) to notify the designated authority of his Aadhaar number so that Aadhaar and PAN can be linked. This needs to be done on or before the notified date, after which the PAN will become inactive.

The Central Board of Direct Taxes (CBDT) had issued a circular in March 2022, under which the PAN allotted to an individual if not linked with Aadhaar by March 31, 2023 would become inactive and the income would be liable for all consequences. Explain that PAN is a key identification number. PAN is the key identification number apart from KYC requirement for all transactions in the securities market for SEB registered entities and exchanges. The Infrastructure Institution (MIL) must ensure valid KYC for all participants.

The application submission period has been extended till the end of March

Markets regulator Sebi on Tuesday extended the deadline for submission of applications for enrollment of forensic auditors for mutual funds, asset management companies (AMCs) and trustee institutions till the end of March. Earlier, interested organizations had to submit applications by March 6. The capital markets regulator said in a public notification that it has been decided to extend the last date for submission of applications and the revised date for submission of applications is March 31, 2023.

The Securities and Exchange Board of India (SEBI) has on February 11 invited applications from eligible firms to enroll forensic auditors for their MF, AMC and trustee companies. After registration, auditors will conduct work related to forensic audit of mutual funds, their AMCs and trustee companies or trustee boards.

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