Listen to this article
The coming month will be quite eventful for the Rs.43 lakh crore MF industry.
There is one major change that has to be done by June 30, 2023; failure to comply with this will cause disruption in your business. Let us look at this change that can impact your business.
Aadhaar Pan linking
It is important to link Aadhaar and PAN as early as possible. The last date to link the two is June 30, 2023.
According to the government, PAN card would become inoperative if people fail to link their Aadhaar and PAN before stipulated period. Since PAN is mandatory in mutual funds, investors’ MF folio may also get inactive if they fail to link the two on time.
Please note that PAN is needed for KYC compliance. KYC is compulsory to invest in stock markets and mutual funds.
Your clients can visit incometaxindiafiling.gov.in. Alternatively, your clients can also visit https://www.utiitsl.com/ OR https://www.egov-nsdl.co.in/ to link their PAN and Aadhaar.
