PAN Validation - PPFAS

All holders PAN including Guardian PAN(for minors), and DOB will be validated against the information available in _______

• Income Tax database

• Bank

• Aadhar

• Ration Card

What will be the effective date for the changes in PAN validation process?

• 31/04/2024

• 01/05/2024

• 30/04/2024

• 09/05/2024

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

• Guardian PAN

• Minor PAN

• Both A and B

• NONE OF THE ABOVE

Transactions can be rejected for the mismatch in names reason being (NIGO) like expansion of initials, change in the order of names etc

• True

• False

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

• TRUE

• FALSE

State in what scenerio the transaction can be accepted basis on the names in ITD & Folio:-

• super Krishna raja -Folio & SUPER KRISHNA RAJA- ITD (subject to the flag received from ITD feeds)

• SUPER KRISHNA R. -Folio & SUPER KRISHNA RAJA- ITD (subject to the flag received from ITD feeds)

• SUPER K RAJA-Folio & SUPER KRISHNA RAJA- ITD

• Both A and B will be accepted

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

• FALSE

• True

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

• FALSE

• TRUE

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

• NIGO

• accepted

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

• NO

• YES