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Important update for demat, mutual funds nominations - Details

The deadlines for demat, mutual funds, and PAN-Aadhaar linking have all been extended by their respective authorities.

Edited By: India TV Tech Desk New Delhi Published on: April 04, 2023 17:41 IST
PAN-Aadhaar linking, mutual funds, demat account nominee
Image Source : FREEPIK The Securities and Exchange Board of India (SEBI) extended the deadline for mutual fund unit holders to submit nominations or opt out from March 31 to September 30, 2023.

The original deadline for linking PAN to Aadhaar, demat, and mutual fund nominations was March 31, 2023. However, each department has decided to push it back. To avoid any potential last-minute issues, such as penalties or the suspension of account debits, individuals should make a concerted effort to complete their tasks as soon as possible.  

The deadline for linking PAN and Aadhaar

As per a press release issued by the Central Board of Direct Taxes (CBDT) on March 28, 2023, individuals can now link their Permanent Account Number (PAN) with Aadhaar without any negative consequences, as the deadline for integration has been extended to June 30, 2023.

Nominations for DEMAT have been extended until  September 30.

According to SEBI, the capital markets regulator, existing holders of trading and demat accounts now have time till the end of September to designate a nominee or opt out. 

The deadline for mutual fund nominations has been extended until September 30.

The Securities and Exchange Board of India (SEBI) extended the deadline for mutual fund unit holders to submit nominations or opt out from March 31 to September 30, 2023.

Last year, the markets regulator urged that all current individual unity holders of mutual fund units, whether individually or jointly, make nominations by March 31; otherwise, the folios would be frozen for debits.

How DSP clients can change their nomination information

Step 1: Go to the DSP website and sign in to your account.

Step 2: To change a nominee's details, go to 'Folios' and use the "+Add nominee details" option under Holder details (s)
You can also go to the branch and get the form signed by all unit holders.

How CAMS customers can update nomination information
Step 1: Go to http://bit.ly/3Q6d0Tl to register your nominee(s) or make an opt-out declaration.
Step 2: Click the ‘Add Nomination’ button. You can also change nominee details such as addition/modification in existing folios when Nominees have previously been registered or No Nomination has been selected.

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