If you want to invest or withdraw money in mutual funds, then link PAN-Aadhaar

PAN AADHAAR LINK: If you want to continue your investment in mutual funds through Systematic Investment Plan (SIP) or if you want to fulfill any dream by withdrawing the money deposited in mutual funds in the new financial year, then immediately interconnect your PAN number and Aadhaar number. Link in. Because the deadline for linking PAN with Aadhaar is ending on March 31, 2022.

The stock market regulator SEBI has asked investors and mutual fund companies to ensure that the operation of the same account, whose PAN is linked with Aadhaar, should be ensured. According to SEBI, it is very important to link PAN with Aadhaar number for making new investments in mutual funds or opening a new demat account. According to an estimate, 20 to 30 lakh mutual fund subscribers have not yet linked Aadhaar with PAN.

Penalty for not linking
Currently, the last date for linking PAN and Aadhaar (AADHAAR) in the country is 31 March 2022. If you do not link Aadhaar with PAN by this last date, then you will have to pay a late fee of Rs 1000. According to section 234H included in the Income Tax Act, if a PAN card holder fails to link his PAN with Aadhaar card before the deadline, then he will have to pay Rs 1000 as late fee. If you used an inactive PAN card, then in that case you may have to pay a fine of up to 10 thousand rupees.

Deadline is March 31, 2022
The Income Tax Department had made it necessary to link Aadhaar with PAN in 2020. Earlier this deadline was ending on 30 June 2021, then it was extended till 30 September 2021, then it was further extended till 31 March 2022.

Will not be able to invest in mutual funds
KYC is necessary for investing in mutual funds, for this it is necessary to have a valid PAN. If PAN becomes invalid due to non-linking of PAN with Aadhaar, then you will not be able to invest in mutual funds.


Leave a Reply

Your email address will not be published. Required fields are marked *