Mumbai, March 29, 2022: DSP Investment Managers has advised their investors to link their PAN to their ADHAAR by March 31, 2022. The recent amendments to the Income Tax Rules made it mandatory for investors to link their Aadhaar to their PAN, as notified by Government of India.
The process of linking of Aadhaar number with PAN can be done through the below two steps.
1. On the new Income Tax Portal, there is a “Link Aadhaar” facility (Link Aadhaar (incometax.gov.in)). Investors can keep their mobile phone handy to receive and submit the OTP [One-Time Password] during the process.
2. Investors can Send a SMS to 567678 or 56161 from their registered mobile number in the following format: UIDPAN[SPACE][12-digit Aadhaar][SPACE][10-digit PAN]. Example: UIDPAN 123456789012 ABCDE1234F
If investors fail to link their Aadhaar with their PAN, the PAN shall be deemed to have become inoperative after 31st March 20022. These investors could also attract higher TDS and transaction restrictions.
Investors who are not required to comply with linking of their PAN with Aadhaar by virtue of being an NRI, can take the guidance from their tax advisor and have their status updated with Income Tax / NSDL suitably, on or before 31st March 2022.
About DSP Investment Managers:
DSP Investment Managers has an over 25-year track record of investment excellence. Today, we have the honour of managing money for over 35 lakh investors from all walks of life: hard-working salaried individuals, high-net-worth individuals, NRIs, small and mid-sized business owners, large private & public corporations, trusts and foreign institutions. We take great pride in knowing that we play a key role in the creation of wealth for all our investors and will always continue to be an organization with a purpose – it is our responsibility to make a real difference to the lives of our investors.
DSP Investment Managers is backed by the 150+ year old DSP Group. Over the past one and a half centuries, the family behind the Group has been very influential in the growth and professionalization of capital markets and money management business in India. DSP Group is currently headed by Mr. Hemendra Kothari.
Our investors’ interests will always remain at the core of our business, and we will continue to maintain a relentless focus on doing what’s best for them, as they #InvestForGood.