Capital markets regulator SEBI has asked all investors to ensure that the linking of PAN and Aadhaar is done before the 31st of March 2023. Any account that fails to do this, will become inopertive and will be considered non-KYC complaint.
In its notification, SEBI says that the PAN-Aadhaar linking must be done before March 31st, "for continual and smooth transactions in securities market and to avoid consequences of non -compliance with the said CBDT circular".
The Central Board of Direct Taxes (CBDT) issued a circular in March 2022 which said the PAN allotted to a person would become inoperative if it is not linked with Aadhaar by March 31, 2023, and would be liable to all the consequences under the Income-tax Act, 1961, for not furnishing, intimating or quoting the PAN.