Do you invest in Mutual Funds through SIP? If yes, then this piece of news is very important for you. Also, it’s advisable to link your PAN and Aadhaar card by June 30 so that the SIP of your mutual fund will be stopped.
If your PAN is not linked with Aadhaar, the SIP will become invalid or inoperative because of which your KYC will remain incomplete.
The government has fixed the date for PAN-Aadhaar linking on June 30, 2021. If you cannot link the two, then you have to give a penalty of Rs 10,000 under the Income Tax Act.
AK Nigam, Director of BPN Fincap told Zee Business, “if your PAN-Aadhaar is not linked within the government’s fixed deadline, then your PAN will be considered invalid. In such a situation, the KYC of your mutual fund will also become invalid. Therefore, it is necessary that the mutual fund subscriber must get the PAN linked with the Aadhaar by June 30.”
Here’s how to link PAN with Aadhaar
Step 1: Go to the new website of Income Tax at www.incometax.gov.in.
Step 2: Register on it (if not already done). Your PAN (Permanent Account Number) will be your user id.
Step 3: Log in by entering the User ID, password and date of birth.
Step 4: A pop up window will come, asking you to link your PAN with Aadhaar. If not, go to ‘our services’ and click on ‘Link Aadhaar’.
Step 5: Details such as name, date of birth and gender will already be mentioned as per the PAN details.