The NSE vide circular dated June 13, 2023 has advised all trading members to ensure that all their clients (existing and new) comply with the requirement of linking their PAN with Aadhar details latest by June 30, 2023, failing which they shall not be allowed to trade on the Exchange.
The circular is issued considering the press release dated March 28, 2023 issued by Government of India which, In order to provide some more time to the taxpayers, extended the date for linking PAN and Aadhaar to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions.
From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative and the consequences during the period that PAN remains inoperative will be as follows:
(i) No refund shall be made against such PANs;
(ii) Interest shall not be payable on such refund for the period during which PAN remains inoperative; and
(iii) TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.
The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs.1,000. PAN can be linked with Aadhaar by accessing the following link
https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar.
