Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

PAN number is now mandatory

21 Dec 2006Deepak Shenoy1 min read

Quick Facts

What is "PAN number is now mandatory" about?
What category is this article in?: General
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 21 December 2006.
How long does this article take to read?: 1 min read

SEBI has posted a circular (MRD/DoP/Dep/SE/Cir-13/06, Sep 26 2006) that makes a PAN card mandatory, from Jan 1, 2007, for all customers who buy or sell stocks in Indian Stock Exchange. In addition, the PAN card must be verified by the brokers visually - so they need to see the original PAN card, and you need to provide them with a copy.

Now even if you don’t trade regularly it is necessary for you to go to your broker’s office and provide them with a copy of your PAN card. This applies to online trading accounts as well.

Failing to do so means you will not be allowed to trade, and your account may be frozen post Jan 1, 2007. Please do this promptly and enjoy the holidays!