PAN-Aadhaar linking, MF, demat nominations. These 3 deadlines have been extended
2 min read 30 Mar 2023, 10:08 AM ISTThe deadlines for demat, mutual fund, and PAN-Aadhaar linking were all extended
PremiumAs we are about to enter a new financial year in just two days, there are some money related tasks that individuals need to finish it by March 31, 2023. These ranges from planning taxes to filing updated income tax return (ITR) to investing in debt funds to avail taxation benefits to buying a high-value life insurance policy. However, the government has extended some of the deadlines.
The deadline for PAN-Aadhaar linking, demat and mutual fund nominations was March 31, 2023, but they were extended.
Last date to linking PAN-Aadhaar extended
The date for linking Permanent Account Number (PAN) and Aadhaar has been extended from March 31 to June 30 this year.
A Ministry of Finance release said this extension was meant to provide some more time to the taxpayers.
From July 2023, the PAN of taxpayers who have failed to link their Aadhaar will become inoperative with consequences.
"The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of ₹1,000," the release said.
SEBI extends the deadline for Mutual Fund nominee updation
The Securities Exchange Board of India (SEBI) has extended the deadline for nominee updation to September 30, 2023 for mutual fund investors. Earlier, the deadline was March 31, 2023.
"Based on representations received from the market participants, it has been decided that the provision mentioned at para 4 of SEBI circular dated June 15, 2022 with regard to freezing of folios, shall come into force with effect from September 30, 2023 instead of March 31, 2023." Sebi announced through a circular dated March 28, 2023.
Sebi extends nomination deadline for demat, trading accounts
The Securities and Exchange Board of India (SEBI) has extended the deadline for existing eligible trading and demat account holders to nominate a beneficiary for their accounts toSeptember 30, 2023.
“Based on the assessment of the trading as well as demat accounts in which choice of nomination details (i.e. furnishing of nomination or declaration for opting out of nomination) has not been updated and on the basis of representations received from the stakeholders, it has been decided that the provisions mentioned at para 7 of SEBI circular dated July 23, 2021 read with para 3 (a) of SEBI circular dated February 24, 2022 with regard to freezing of accounts shall come into force with effect from September 30, 2023 instead of March 31, 2023," the market regulator mentioned in a circular dated 27 March.
