Sebi Asks Investors to Link PAN with Aadhaar by Sept 30

The Securities and Exchange Board of India (Sebi) has asked investors to get their Aadhaar number linked with Permanent Account Number (PAN) by September 30. The regulator has also asked the marked institutions such as stock exchanges to ensure that any new client opening a demat account with them has an active PAN which is linked to Aadhaar.

The development comes after the tax department asked all the PAN holders to link it with Aadhaar by September 30, 2021, failure to do so would lead to deactivation of the PAN.

“Since PAN is sole identification number for all transactions in the Securities Marked… all Sebi registered entities including Marked Infrastructure Institutions (MI-Is) 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,” said the Sebi press release.

The regulator added that all existing investors should ensure their PAN is linked with Aadhaar prior to September 30” for continual and smooth transactions in securities market and to avoid any consequences of non-compliance of said notification on their transactions in securities markets.”

The Central Board of Direct Taxes (CDBT) issued a notification on February 13,2020, saying anyone who has been allotted a PAN prior to July 1, 2017 should link it with Aadhaar by September 30, 2021, and failure to do shall make the PAN inoperative. S-ET

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