DSP Investment Managers advises investors to follow Govt mandate of linking PAN-AADHAAR by March 31, 2022

29 Mar 2022 , 12:55 PM

DSP Investment Managers has advised their investors to link their PAN to their ADHAAR by March 31, 2022. The recent amendments to the Income Tax Rules made it mandatory for investors to link their Aadhaar to their PAN, as notified by Government of India.

The process of linking of Aadhaar number with PAN can be done through the below two steps.

1. On the new Income Tax Portal, there is a “Link Aadhaar” facility (Link Aadhaar (incometax.gov.in)). Investors can keep their mobile phone handy to receive and submit the OTP [One-Time Password] during the process.

2. Investors can Send a SMS to 567678 or 56161 from their registered mobile number in the following format: UIDPAN[SPACE][12-digit Aadhaar][SPACE][10-digit PAN]. Example: UIDPAN 123456789012 ABCDE1234F

If investors fail to link their Aadhaar with their PAN, the PAN shall be deemed to have become inoperative after 31st March 20022. These investors could also attract higher TDS and transaction restrictions.

Investors who are not required to comply with linking of their PAN with Aadhaar by virtue of being an NRI, can take the guidance from their tax advisor and have their status updated with Income Tax / NSDL suitably, on or before 31st March 2022.