As per amendment introduced by Government in 2017, it is mandatory to link investor’s Aadhaar card to their PAN, on or before 31March , 2022. If anyone fails to link the PAN card to the Aadhaar card, it will become inoperative. Consequently, KYC status will also get invalid.
To invest in Mutual Funds, investors must have a valid PAN. If PAN becomes invalid because of non-linkage with Aadhaar, investors will not be able to invest in mutual funds.
It’s not just investor’s mutual fund investment that will come to a halt, but if you fail to link your PAN and Aadhaar, most of your investment-related activities will be stopped. Fresh investments or redemptions will be prohibited. The previous and ongoing systematic investment plans (SIPs) will also be stopped.
Also, The Income tax department will levy a fee of Rs 10,000 if investor fail to link their PAN card and Aadhaar before March 31, 2022. Therefore, mutual fund subscriber must link their PAN with Aadhaar by March 31, 2022.
Investors can do so by :
1. Clicking on this link – Link Aadhaar, OR
2. Simply sending an SMS to 567678 / 56161 from your registered mobile number.
SMS format – <12-digit Aadhaar number> <10-digit PAN>.
Example: UIDPAN 123456789012 ABCDE1234F
Risk Factors: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.