Aug 152017
 

Link Aadhar Card with Shares, Mutual Funds

According to latest updates it is certain that Aadhar card may become compulsory for anyone who wants to sell or buy mutual funds and shares. According to SEBI it is certain that the government is looking forward to link financial market with users Aadhar card details.

Dates of linking Aadhar card

It is certain that the government and SEBI board has not yet finalized the dates from when this scheme shall be valid. But it is certain that new implementations will be made soon for secure trading.

Benefits of linking Aadhar card

  • According to SEBI board and government this move of linking Aadhar card with financial market is done with an aim to regulate Black market involved in trading business.
  • It will also help in regulating all financial movements related to share market transactions.
  • This process will help improve the presence of white money in trading business.

Why Aadhar compulsory?

  • According to sources it is certain that only linking PAN card number does not serve much to deducting and calculating tax imposed on share trading.

Updates related to Aadhar card Linking

  • Top financial officials have already made it very clear that for all types of financial transactions Aadhar card linked to the bank account will be compulsory.
  • This is done with an aim to offer secure transactions through bank accounts.
  • As most shares and mutual fund trading is also done via bank account so it is certain that Customers and traders will have to provide with their Aadhar card details as well.
  • According to the sources in top financial institutions, it is certain that Aadhar card is required when filing your personal details. Even when performing any cash transaction traders have to provide with their Aadhar details.
  • As for now the officials have also stated that For trading in shares and mutual funds, Aadhar card will be able to completely replace the need of providing with PAN card details or not.
  • There are chances that Aadhar card details will be required to provide with customer identification number for performing any transaction in the financial market.
  • In the past the government has already made it very clear that Aadhar cards will be linked with the customers PAN card details along with their mobile phone numbers details and bank account details.
  • It is certain that all customers are also expected to provide with their Aadhar card details for linking it with their bank account latest by 31st
  • When dealing in buying and selling shares and mutual funds it is certain that traders will have to provide with their 10-digit Aadhar card number for performing their transactions.

Other Articles

Sorry, the comment form is closed at this time.