SEBI asks Investors to Link PAN with Aadhaar by September 30, Know More about it….

Markets regulator SEBI has asked investors to link their PAN with Aadhaar by September 30. SEBI has asked investors to settle this work at the earliest so that there is no problem in the processing of their investments in the securities market

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Updated on:

04 Sep 2021, 9:33 am

PAN number will become inoperative

SEBI, in a press release, referred to a notice issued by the Central Board of Direct Taxes (CBDT) on February 13, stating that PAN would cease to operate if PAN and Aadhaar were are connected or linked by September 30. If PAN is not available, then no transaction can be done. SEBI has asked all companies to ensure that PAN cards for investors are connected to Aadhaar numbers before September 30, 2021.

PAN will be deactivated

The Tax Department had said that if any PAN cardholders did not link PAN to Aadhaar, their PAN would be declared invalid. However after this, for financial transactions, PAN will not be used.

Aadhar-pan link through a single message

For this, you have to type UIDPAN on your phone. After this, your Aadhaar number is to be entered by giving space and then PAN number by giving space.
For example, UIDPAN 0000011112222 AAAPA7777Q is to be sent to 567678 or 56161.
After this, your two numbers in the process of linking will be put by the Income Tax Department.

Aadhar-pan can be linked online

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Firstly visit the official website of the Income Tax Department https://www.incometax.gov.in/iec/foportal.
In this, at the bottom, the option of link Aadhaar will be found. Clicking on it will open a new page.
In this, you have to enter the PAN number, Aadhaar number, and the name entered in the Aadhaar card and click on the link Aadhaar.
After this, your two numbers in the process of linking will be put by the Income Tax Department.

Why is it important to link PAN to Aadhaar?

If a person does not link his PAN to Aadhaar, he will have to pay more TDS.
If the PAN is not connected to Aadhaar, the PAN will be declared inactive.
Your bank account may be suspended due to non-Aadhaar-PAN communication.
Even if you are investing in the stock market, it is important to link Aadhaar to PAN.