The Securities and Exchange Board of India on 3rd September 2021 has directed the investors to link their permanent account number (PAN) with the Aadhaar number before September 30 to continue smooth transactions in the securities market.
Further SEBI has also directed entities including exchanges to ensure accept only operative PAN (those linked with Aadhaar numbers) by the client while opening new accounts post-September 30, 2021.
As per Section 139AA of the Income Tax Act, 1961, every person who has a PAN, and is eligible to obtain Aadhaar number, is required to link the two identification documents.
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.
