The market regulator Securities and Exchange Board of India (SEBI) has advised investors to link PAN with Aadhaar before September 30 for continual and smooth transactions in the securities market.
As per the Central Board of Direct Taxes (CBDT) notification on February 13, the Permanent Account Number (PAN) of a person allotted as of July 1, 2017, will become inoperative if it is not linked with Aadhaar by September 30, 2021, SEBI said in a press release.
SEBI stated that since PAN is the sole identification number for all transactions in the securities market, all SEBI registered entities, including Market Infrastructure Institutions (MIIs), should ensure compliance with the CBDT notification, and accept only operative PAN (i.e., linked with Aadhaar number) by the client, while opening new accounts after September 30.
As per Section 139AA of the Income Tax Act, 1961, it is mandatory for every person to quote the Aadhaar number in their income tax return and the application for the allotment of PAN, provided they are eligible for Aadhaar.
Link Aadhaar card to PAN card using the income tax department's website:
Link Aadhaar card to PAN card via SMS
From your registered mobile number type UIDPAN, PAN and Aadhaar numbers and send them to 567678 or 56161. For example, Type UIDPAN (12-digit Aadhaar number), SPACE (10-digit PAN), and send it to 567678 or 56161.
Link Aadhaar card with PAN manually
In order to link the documents manually, visit a service centre for your PAN card and fill the 'Annexure-I' form. Attach the form with a copy of the PAN and Aadhaar cards. With this method, an individual will have to pay a prescribed fee, unlike the online linking which is free.
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