PAN-Aadhaar Link

KYC compliance: SEBI directs investors to link PAN with Aadhaar by March 31

Capital markets regulator Sebi on Wednesday requested that all investors to link their PAN with their Aadhaar number by March-end for smooth and seamless transactions in the securities market.

SEBI said in a statement that non-compliance may lead to restrictions on securities and other transactions till the Permanent Account Number (PAN) and Aadhaar are linked.

The Central Board of Direct Taxes (CBDT) issued a circular in March 2022, according to which the PAN allotted to an individual, if not linked with Aadhaar by March 31, 2023, would become inoperative.

“Since PAN is the key identification number and forms part of the KYC requirements for all transactions in the securities market, it is essential for all registered members and market infrastructure institutions (MIIs) to guarantee substantial KYC,” SEBI said.

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