As per this circular issued by the stock exchange (NSE), all such investors who do not link their PAN with Aadhar shall NOT be allowed to trade w.e.f 1st Oct 2021.
To ensure un-interrupted trading, we urge you ensure that your PAN is linked to your Aadhar.
• How do I check if my PAN & Aadhar are linked or not?
• My PAN is not linked with Aadhar how do I link them?
*Please note that if the name or date of birth or gender in PAN database does not match with the Aadhaar data, they will not be linked. In such a case, the information can be updated in Aadhaar database, by clicking this link and after getting confirmation from UIDAI/Aadhaar authorities, PAN can be linked with Aadhaar as per the process defined above.
What if I don't link my PAN & Aadhar?
Your PAN shall be considered as inoperative/Invalid with effect from 1st Oct 2021. This will lead to several consequences like:
- We will have to disallow you to trade in stocks / derivatives / mutual funds.
- Higher taxes shall be deducted on your dividends.
- Higher TDS once deducted cannot be refunded/adjusted if subsequently PAN is linked to Aadhaar.
- You may have difficulties in operating your Bank accounts.
PM Securities and its affiliates shall not be liable/responsible for any lack of / cessation of service / loss of investments pursuant to non-compliance / non-adherence to the aforesaid Income Tax Rules by the Client or pursuant to actions taken by PM Securities or product issuers for ensuring compliance with the aforesaid Income Tax Rules.