PAN Validation--02/5/2024

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

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

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.

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

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

Is POA holder PAN in scope for validation?

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

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

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

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