Urgent Notice - Link PAN with Aadhaar before 31.3.2023

-

The Government of India (GOI) has made it mandatory to link PAN with Aadhaar on or before 31st March, 2023. Further, clarify that in case PAN is not seeded with Aadhaar before the date specified, it will not be considered as a valid PAN. In view of the above, exchanges have been notified to ensure only valid PAN is mapped with trading accounts.

 
Hence, to comply with the above and ensure uninterrupted service to clients, you are advised to inform clients to link PAN with Aadhaar on or before the above-mentioned deadline. Also, for Invalid, please ask clients to coordinate with the Income Tax authority to activate the same or update a valid PAN.

Clients can link Aadhaar with PAN by accessing Clients' mentioned web-Link : 

 https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar

To know the status, if Aadhaar is linked with PAN, clients may visit :     
                 https://eportal.incometax.gov.in/iec/foservices/#/pre-login/link-aadhaar-status

Financial Calculator




I would like to request you to join our following services.
It is the smartest way to stay on top of latest Mutual fund, Bonds & IPO News .

 Product Updates on whatsapp


 Product Updates on Email 

                                                   
 Product Updates on Telegram



You will get daily news updates for FREE. 
I also request you to spread the world by referring us to the smartest people you know.  

To share it with your friends, 
just Copy below message it & paste in your group

Subscribe to Our WhatsApp, Email & Telegram Update Service ! https://bit.ly/3ryhxBM
     

Popular Posts

New Process for Transfer of Mutual Fund Units in Non-Demat Mode

-
Image
  Key Highlights of AMFI Best Practices Guidelines (Circular No. 116 / 2024-25) Background SEBI regulations permit mutual fund units to be freely transferable unless otherwise restricted. While units in demat mode are freely transferable, units in SoA (non-demat) mode require dematerialization for transfer. Challenges with SoA transfers include the risk of duplicate transfers and lack of visibility into pledges or redemptions until the transfer is registered. To address investor and distributor concerns, AMFI proposes a phased introduction of the facility for transferring units held in SoA mode. Key Provisions for SoA Transfers Applicability : Transfer facility available across all mutual fund schemes except ETFs. Partial transfers are allowed, but if residual units fall below the scheme's minimum threshold, they will be redeemed automatically. Restrictions & Safeguards : Redemption of transferred units is restricted for 10 days post-transfer to mitigate fraud risk. Transfer...
Read more

Exciting News: More Control, More Choices: Check Out the New Nomination Rules

-
Image
  Banking Laws Amendment 2024: What It Means for You Introduction of Updated Nomination Rules : Bank account holders can now designate up to four nominees for their accounts. Passed by the Lok Sabha on December 3, 2024 , this amendment aims to enhance flexibility and convenience for account holders. Importance of Nomination : Nomination facilitates the smooth transfer of funds after the account holder's demise. Without a nominee, legal heirs must navigate a complex and time-consuming process , requiring: A will Legal heir certificate No-objection certificates (NOCs) Limitations of the Previous System : Earlier, only one nominee could be appointed per account, leading to challenges such as: Funds becoming unclaimed if the sole nominee predeceased the account holder or failed to claim the funds. Inactive accounts resulting in unclaimed funds being transferred to the RBI’s Depositor Education and Awareness (DEA) Fund after 10 years , earning interest at lower rates than the origin...
Read more

Sebi notifies SIF, new asset class between PMS and mutual funds with minimum investment of Rs 10 lakh

-
Image
  Key Points About Specialized Investment Fund (SIF) Overview: New Asset Class : SIF offers more flexibility than regular mutual funds and requires a lower minimum investment compared to Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). Minimum Investment : ₹10 lakh for regular investors. No limit for accredited investors with higher financial capacity and risk understanding. Operational Features: Scheme Categories : Mutual funds can launch multiple categories under SIF. Segregation : No need to separate MF and SIF operations, but branding and advertisement must be distinct. Separate Identity : Fund houses must create a separate website and identity for SIF. Key Regulations: TER Structure : Similar to mutual funds with AUM slab-wise Total Expense Ratio (TER). Approval : Fund houses need SEBI approval through a draft offer document to launch SIF. Fund Manager : Must hold relevant NISM certification as specified by SEBI. Investment Guidelines: Debt Investm...
Read more