Attention All NPS Subscribers: Link Your PAN with your Aadhaar by March 31, 2023
The PFRDA has released a notice advising individuals to connect their PAN numbers with their Aadhaar cards.
It’s crucial for NPS subscribers to link their PAN with Aadhaar by March 31, 2023, according to the latest guidelines from PFRDA. Failure to do so will result in transaction restrictions starting April 1, 2023. The deadline for linking PAN with Aadhaar is approaching fast, and it’s mandatory for all taxpayers, as per Income Tax provisions. Don’t forget to link your PAN with Aadhaar to avoid any inconvenience while using the National Pension System.
As per the provisions of the Income-tax Act, 1961, it is mandatory for all individuals who have been allotted a PAN to link it with their Aadhaar number. The last date to complete this linking process is March 31, 2023, failing which the PAN shall become inoperative. This has been reiterated by the Central Board of Direct Taxes (CBDT) through their circular No. 7 of 2022, dated March 30, 2022.
As PAN is a key identification number and an essential part of Know Your Customer (KYC) requirements for NPS accounts, all intermediaries must ensure valid KYC for all their subscribers. Existing subscribers must also link their PAN with Aadhaar before the March 31, 2023 deadline to ensure seamless transactions and avoid any consequences of non-compliance with the CBDT circular. Failure to do so will render NPS accounts as non-KYC compliant, potentially leading to restrictions on transactions until the linking is completed. Don’t delay, link your PAN with Aadhaar today!
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