The National Stock Exchange (NSE) on February 15, 2024, issued a circular regarding Aadhaar seeding with PAN - Non-Resident Indian (NRI) Clients with reference to circular No. NSE/ISC/57267 dated June 26, 2023.
The following has been stated:
The Income Tax Department vide public announcements had advised NRIs to update their NRI status with their respective Jurisdictional Assessing Officer (JAO) along with supporting documents for updating their residential status in the Income Tax database.
In adherence to these requirements, PANs categorised as NRI in the UCC database of the Exchange must be either marked as “PAN-Aadhaar linked” or be marked as "Not Applicable" as per the Income Tax record provided by Protean eGov Technologies Ltd. For UCCs of NRI investors, having any status other than the above two, such UCCs will neither be able to trade nor square off their open positions from February 24, 2024, for both new and existing clients.
[Circular No: 07/2024]
