PAN Validation--02/5/2024

What is the effective date for the changes in PAN validation process?

• April 29, 2024

• April 30, 2024

• March 31, 2024

• May 1, 2024

All holders PAN including Guardian PAN(for minors), and DOB (Date of Incorporation for Corporates) will be validated against the information available in Income Tax database

• TRUE

• FALSE

If case of investments made on behalf of Minor, ____ is mandatory and accordingly ____ and DOB should be mentioned as per ITD or as printed in PAN card for seamless transaction.

• Guardian Name,

  Joint holders PAN

• Guardian PAN, Guardian Name

• Minors PAN,

  Guardians Name

• Guardian PAN,

  Minors Name

PAN validation process will be carried out and transactions shall be allowed in prospective folios only if the validation is successful.

• TRUE

• FALSE

In case of Exchange (Demat) transactions, PAN validation process will be limited to Purchase transactions.

• TRUE

• FALSE

Is POA holder PAN in scope for validation?

• YES

• NO

If PAN validation process is unsuccessful, then lesser TDS will be deducted for IDCW transactions

• TRUE

• FALSE

Payout of IDCW will be paid and the amount through respective schemes in case of PAN Validation unsuccessful.

• TRUE

• FALSE

Is the PAN validation applicable for PAN Exempt Categories of Investors (PEKRN)?

• YES

• NO

If the Name and DOB/I is not found matched with ITD/PAN card, such forms/transactions are treated as ____.

• ITD Rejection

• NIGO

• NFTs

• PEKRN