General
PAN card-Aadhaar linking: Why has SEBI made it mandatory?
The Central Board of Direct Tax (CBDT) had earlier asked all taxpayers to link their permanent account number (PAN) with Aadhar by March 31, 2023. But the date was later extended to June 30, 2023. Even the Securities and Exchange Board of India has asked investors to link the two before the month end to continue doing transactions in the securities market.
Jitendra Dhaka Founder of BankSathi said, “Know-your-customer (KYC) requirements will ensure that only authorised users have access to e-wallets, thereby boosting security and decreasing the risk of fraud. By integrating KYC to e-wallets, clients will have improved investment transparency, as they will be able to more easily trace their mutual fund holdings and transactions. After the completion of the KYC procedure, consumers will be able to invest in mutual funds using e-wallets without the burden of continuously providing physical documents.”
Who needs to link PAN with Aadhar?
According to the CBDT the Income-tax act makes it mandatory for every person who was allotted a PAN on July 1,2017 to link it to the Aadhar number. But anyone who is 80 years and above or a non-resident as per Income-tax Act and a person who is not a citizen of India do not compulsorily need to link the PAN with Aadhar.
Why did SEBI make it mandatory for investors to link PAN with Aadhar?
Since PAN is the key identification number and it is also a part of the KYC requirements for all transactions in the market, SEBI has asked all registered entities and MIIS to ensure that all the participants have valid KYC.
All investors are required to link the PAN with Aadhar before March 31 for continual and smooth transactions and to avoid the consequence of non-compliance with CBDT circular. If not followed there would be restrictions on securities and other transactions until the PAN and Aadhar are linked.
Maharashtra
Mumbai Mankhurd Shivaji Nagar bridge should be opened for weighing vehicles: Abu Asim Azmi
abu aasim aazmi
Mumbai: Maharashtra Samajwadi Party leader and MLA has demanded in the assembly that a flyover bridge should be started for heavy vehicles to curb fatal accidents in Mankhurd Shivaji Nagar. Fatal accidents are happening every month in Mankhurd Shivaji Nagar. Earlier there were high tension wires on the bridge built on GM Link Road, then the bridge was closed due to heavy vehicles. Later the wires were also removed and the flyover department has also allowed heavy vehicles to pass, however, heavy vehicles are still not being allowed to move. Today in the House, a demand was made to start the movement of heavy vehicles on this bridge. Abu Asim Azmi said that recently a tragic accident took place here in which three people died.
CRIME
Mumbai: Police have claimed to have arrested one of the most wanted accused involved in the 1993 Mumbai riots. Mumbai’s Wadala police arrested a fugitive accused who was on the run for 32 years during an operation to search for wanted accused. 54-year-old Arif Ali Hashimullah Khan has been arrested from Antop Hill. The accused did not appear in court during the hearing. A warrant was also issued against him, after which the police arrested the accused and presented him in the court and the court ordered his remand. This operation was carried out by Mumbai Police Commissioner Deven Bharti and Port Zone DCP Vijay Sagar.
Maharashtra: In the context of the Mumbai Marathi-Hindi controversy, Shishil Kodia has apologized for his controversial statement. He said that his tweet was misrepresented. I am not against Marathi. I have been living in Mumbai and Maharashtra for the last 30 years. I am a fan of Raj Thackeray. I constantly comment positively on Raj Thackeray’s tweets. I tweeted in my emotions and I made a mistake. This tense and tense atmosphere should end. We need a favorable environment to accept Marathi. So I request you to forgive me for this mistake for Marathi. Earlier, Shishil Kodia had made a controversial statement about Marathi and refused to speak Marathi, due to which MNS workers attacked and pelted stones at Shishil’s company WeWork. After which Shishil has now apologized to X
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