Market regulator SEBI has asked all investors to link their PAN with Aadhaar number by March 31 for continuous and smooth transactions in the securities market.
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Capital Market Regulator: SEBI has issued a guideline for all investors to link their PAN with Aadhaar number. SEBI said that all existing investors are required to furnish their PAN before March 31, 2023, for continuous and smooth transactions in the market and to avoid the consequences of non-compliance of the said CBDT circular. aadhaar number Must be sure to connect to. As such accounts will be treated as non-KYC compliant, there may be restrictions on dealing in 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 intimate his Aadhaar number to the prescribed authority so that Aadhaar and PAN can be linked. . This is required to be done on or before the notified date, after which the PAN will become inoperative.
The Central Board of Direct Taxes (CBDT) had issued a circular in March 2022, under which the PAN allotted to an individual would become inoperative if not linked with Aadhaar by March 31, 2023, and would be liable for all consequences under income. Explain that PAN is a key identification number. PAN is the key identification number in addition to KYC requirements for all transactions in the securities market for SEB registered entities and exchanges. Infrastructure Institutions (Mills) need to ensure valid KYC for all participants.
Application submission time extended till the end of March
Markets regulator Sebi on Tuesday extended till the end of March the submission of applications for empanelment of forensic auditors for mutual funds, asset management companies (AMCs) and trustee institutions. Earlier, interested institutions were required to submit applications by March 6. The capital markets regulator said in a public notice 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) had on February 11 invited applications from eligible firms for empanelment of forensic auditors for MFs, their AMCs and trustee companies. After empanelment, the auditors will handle work related to forensic audit of Mutual Funds, their AMCs and Trustee Companies or Board of Trustees.