PAN-Aadhaar card: If you invest in small savings schemes being run by the Modi government in the country, then now you have to take care of some important things.
Otherwise you may have to face many problems. Because the government has made it mandatory for people taking advantage of these small savings schemes to submit Aadhaar card and PAN card.
That is, now you will have to submit Aadhaar card and PAN card for small savings schemes like Public Provident Fund (PPF), National Savings Certificate (NSC), Senior Citizen Saving Scheme, Sukanya Samriddhi Yojana.
If you want to take advantage of these schemes, then you will have to submit PAN card and Aadhaar card to open an account under these schemes. If you do not do this, then your account will be closed.
Along with this, the transactions of these accounts will also be stopped. Let us tell you that earlier there was no need to submit Aadhaar card and PAN card for investing in these schemes. But now to take advantage of government schemes, it is very important to submit Aadhaar card and PAN card from April 1.
Aadhaar will have to be submitted in 6 months
If a person does not have an Aadhaar card, they can provide Aadhaar enrollment slip or enrollment number as an option. You are required to provide Aadhaar card within six months of opening the account.
If a person is unable to submit his Aadhaar card within 6 months, his savings scheme account will be frozen and it will not be reopened until the Aadhaar number is provided.
PAN card will have to be submitted within 2 months
Apart from this, it is necessary to submit PAN card or Form 60 to open an account under small savings schemes. Failure to submit this document will result in freezing of the investment account until the PAN card is provided within two months. Apart from this, the post office or bank may also need other documents.
This is the purpose of the government
The Government of India has made it mandatory to submit Aadhaar and PAN card to prevent fraudulent activities in the country and bring transparency in small savings schemes.
By linking Aadhaar and PAN cards to small savings schemes, the government aims to eliminate any false identities and create a database for investors.
The government encourages individuals to comply with this notification as non-compliance may result in their savings scheme account being closed or frozen.