To All Members,
This is with reference to our notices no. 20210503-41 dated May 03, 2021 and 20210901-46 dated September 01, 2021, 20210930-40 dated Sep 30, 2021, 20220310-31 dated March 10, 2022, 20220324-56 dated March 24, 2022 and 20220330-48 dated March 30, 2022 with regards to trade not permitted in case of PAN is not seeded with Aadhar.
In this context, Government of India vide Circular No. 7 of 2022 dated March 30, 2022 (copy attached as Annexure A), the relevant extract of the same is as given below:
“In order to have smooth application of section 234H and existing rule 114AAA, it is clarified that the impact of sub-rule (2) of rule 114AAA i.e. where a person, whose permanent account number has become inoperative under sub-rule (1), is required to furnish, intimate or quote his permanent account number under the Act, it shall be deemed that he has not furnished, intimated or quoted the permanent account number, as the case may be, in accordance with the provisions of the Act, and he shall be liable for all the consequences under the Act or not furnishing, intimating or quoting the permanent account number, shall come into effect from 1st April, 2023 and the period beginning from 1st April, 2022 and ending with 31st March, 2023, shall be the period during which the said sub-rule shall not have its negative consequences of the nature referred to in the said sub-rule or specified in paras 4 and 4.1 above.”
In accordance with the guidelines issued, all members are advised to ensure that their existing and new clients comply with the requirement of linking the Aadhar with PAN by March 31, 2023.
For and on behalf of BSE Ltd.
Hiteshkumar Desai Jyoti Thukral
General Manager Senior Manager
Brokers’ Supervision Brokers’ Supervision |