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PAN card-Aadhaar linking: Why has SEBI made it mandatory?

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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

Anti-drug rally of Govindi Samajwadi Party leader and MLA Abu Asim Azmi

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Mumbai: A massive anti-drug rally was taken out today under the leadership of Samajwadi Party MLA Abu Asim Azmi to draw attention to the serious problem of drug addiction and illegal drug trade in Mankhurd Shivaji Nagar assembly constituency and to create public awareness against it.

Thousands of workers and local citizens participated in the rally. Protesters took to the streets and demanded strict action against the illegal drug trade and appealed to the youth to stay away from drugs.
The main objective of the rally was to free the youth of the area from the clutches of drugs and to put pressure on the administration to stop this illegal trade. Abu Asim Azmi himself led the rally and stressed the need for immediate and strict action against the drug problem in the area. Not only party workers but also a large number of mothers, sisters, young and old citizens of the area participated in the demonstration, highlighting the seriousness of the problem.

The drug problem in Mankhurd Shivaji Nagar constituency has been a topic of discussion for many years and it is badly affecting the lives of local citizens. By organizing this rally, MLA Azmi has once again shown his determination to solve this important problem faced by the citizens of his constituency. Speaking on the occasion, MLA Abu Asim Azmi warned the administration: “Immediate and strict action should be taken against those involved in the illegal drug trade, otherwise the Samajwadi Party and the local citizens will intensify the protest.” The rally proved to be an important rally in drawing attention to the social and health problems of the Mankhurdshivaji Nagar area.

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Maharashtra

A new police station should be established in Govandi Shivaji Nagar. Maharashtra SP leader Abu Asim Azmi demands from Police Commissioner Devin Bharti

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abu aasim aazmi

Mumbai: Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi has demanded the establishment of a new police station in Shivaji Nagar constituency from Mumbai Police Commissioner Devin Bharti. He said that the old police station has been shifted to Mahada, which makes it very difficult to reach the police station from the SMS company area and it takes half an hour to an hour. In such a situation, a new police station should be established in Shivaji Nagar constituency. There has been an increase in drug abuse, crimes and other incidents in Shivaji Nagar and Govindi areas, along with an increase in the population here. It is necessary to establish a police station in proportion to the population, while the presence of police stations and personnel is not there in proportion to the population. He said that Police Commissioner Devin Bharti has said that after the recruitment of police, the police station will be established and manpower will be deployed in the police stations. Along with this, Abu Asim Azmi has also accused the local administration of irregularities in the distribution of funds along with the establishment of the police station. He said that now the corporation and The BMC election has not been held, there are Samajwadi Party corporators here but they are not being provided funds, but whoever joins the Shinde group is provided funds, this is complete injustice and therefore the funds should be distributed equally. He said that the government has no concern with the slum areas, the police presence will remain in Walkashore, Malabar Hill and Cuffe Parade, but there is no police presence in the slum areas and there is a shortage of them, that is why the bat chowki that we have built with our own funds in Govindi is also empty, there is no police personnel in it.

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Maharashtra

Conspiracy to defame Sameer Wankhede… serious accusation of protecting Cordelia Cruz from drug case, Judge Irfan Shaikh dismissed after disciplinary committee report

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Mumbai: An attempt to defame former NCB zonal director Sameer Wankhede has started once again. Now the latest case is the dismissal of Judge Irfan Sheikh, in which this allegation has been made against Sameer Wankhede. In the Cordelia Cruz case, instead of arresting Judge Irfan Sheikh, his team has saved the judge. Additional Metropolitan Magistrate Irfan Sheikh was then posted as a judge of the Splendid Court. He was currently serving as a judge of Palghar and Thana District. After serious allegations like misuse of office, use of seized drugs, hitting a taxi with his car on Rafi Ahmed Kidwai Marg while intoxicated, abusing his powers along with having disproportionate wealth, hiding his identity at Nair Hospital and registering a false and misleading address, and getting the car back without depositing it, the High Court has dismissed the judge from service under disciplinary action. When the judge was investigated in the case, the allegations were found to be true and Irfan Sheikh was dismissed from his job. There is no mention of the Cordelia Cruz drug case anywhere in it, but Sameer Wankhede is being accused of helping the judge. Sameer Wankhede has categorically denied this and said that there is no mention of the Cordelia Cruz drug case in the police report or the judicial committee report.
When the documents and copies were obtained in this regard, there was no mention of the Cordelia Cruise drug case. Sameer Wankhede is a constant target of Bollywood, so Shah Rukh Khan’s company Red Chillies Entertainment had prepared a series of bad Bollywood stories against him, against which Sameer Wankhede has filed a defamation case in the Delhi High Court and its hearing is likely to be held soon. The series of slander against Sameer Wankhede and his family has become long and this is the reason why the attempt to defame Sameer Wankhede has intensified in the Irfan Sheikh case as well, but Sameer Wankhede or the NCB team have no role or involvement in this matter.

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