SEBI requires registered entities to accept only operative PAN linked with Aadhaar number by client
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 on 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 sole identification number for all transactions in the Securities Market, SEBI, in view of the said CBDT notification, has mandated that 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, SEBI has required that all the existing investors are advised to ensure linking of their PAN with Aadhaar number prior to Sept 30, 2021 or any other date specified by CBDT for continual and smooth transactions insecurities market and to avoid any consequences of non-compliance of said notification on their transactions in securities market.
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