PAN-Aadhaar linking: The new financial is just around the corner and there are several tasks whose deadlines will end this month. Individuals who fail to meet these deadlines will have to pay penalties or face other consequences. But there is some good news as the government has extended certain deadlines. Here is the list of financial tasks for which the deadline has been extended. 

PAN-Aadhaar linking deadline 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The last date to link Permanent Account Number (PAN) and Aadhaar has been extended from March 31 to June 30. The extension is provided to taxpayers who have failed to link their Aadhaar card. If not done, the PAN card will become inoperative. "The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of a fee of Rs 1,000," the release said.  

More than 51 crore PANs have already been linked with Aadhaar to date

Mutual fund nomination deadline

The Securities and Exchange Board of India (SEBI) has announced the extension of the mutual fund nominee. The last date to update the mutual fund nominee is September 30, 2023.  

"Based on representations received from the market participants, it has been decided that the provision mentioned in 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.

How to add a nominee to a Mutual fund portfolio 

Step 1: Firstly, fill out the nomination form.
Step 2: Sign on the form.
Step 3: Now, deliver it to the mutual fund firm or the registrar and transfer agency (RTA).

 
Deadline to add nominee for Demat, trading account 

The SEBI has also extended the deadline to nominate a beneficiary to Demat and the trading account. The new deadline is September 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.  

 

Steps to add a nominee to Demant account 

Step 1: Visit the Demant account.
Step 2: Go to 'Profile Segment' and 
Step 3: Log in to the Demat account and navigate to ‘My Nominees”
Step 4: Choose ‘Add Nominee’ or ‘Opt-out”
Step 5: Fill in the details and upload an ID proof for the nominee
Step 6: Enter the nominee’s share in percentage
Step 7: E-sign the document with an Aadhaar OTP, and the details of the nominee will be processed.