#how to link aadhar with bank account

[infinity-compliance]

How to update UAN and EPF KYC details Online

UAN stands for Universal Account Number is a 12-digit number given to each EPFO member. This number, which acts as a pivot, connects many Member Identification Numbers (Member Ids) assigned to a single member. Here are few important FAQs on UAN KYC, release by EPFO.1. What is KYC? Know Your Customer or KYC is a one-time process which helps in identity verification of subscribers by linking UAN with KYC details. The Employees / Employers need to provide KYC details viz., Aadhaar, PAN, Bank etc., for unique identification of the employees enabling seamless online services.2. How can I seed my KYC details with UAN? o Login to your EPF account at the unified member portal o Click on the “KYC” option in the “Manage” section o You can select the details (PAN, Bank Account, Aadhar etc) which you want to link with UAN o Fill in the requisite fields o Now click on the “Save” option o Your request will be displayed in “KYC Pending for Approval” o Once employer approves the details the message will be changed to “Digitally approved by the employer” o Once UIDAI confirms your details, “Verified by UIDAI” is displayed against your Aadhaar. 3. What to do if my employer is not approving KYC? In case your employer is not approving KYC details, you can directly approach administration or HR department with request. If it is taking more time you can escalate it to higher authority in the organization. If no one is responding to your request you can approach EPF Grievance via http://epfigms.gov.in. 4. How do I know that KYC updated by me is approved by the employer? The status will be shown against updated KYC document on the same page. The system will also trigger SMS on your register mobile number.5. How can I seed my Bank account details? o Login to your EPF account at the unified member portal o Enter your bank account number and IFSC code. o The details have to be approved by your employer. o Once approved the bank account gets seeded.6. What can I do if my UAN is not seeded with Aadhaar? Member can himself seed UAN with Aadhaar by visiting member portal. Thereafter the employer must approve the same to complete the linkage. Alternatively, member can ask his employer to link Aadhaar with UAN. The member can use “e-KYC Portal” under Online Service available on home page of EPFO website or e-KYC service under EPFO in UMANG APP to link his/her UAN with Aadhaar without employer’s intervention.7. Can I change my already seeded Bank account number? Yes. The bank account number can be updated any number of times by following the steps mentioned above. However, the bank account details cannot be changed during pendency of any claim with EPFO. 8. What precautions should I take while seeding Bank account number? You should seed active bank account to which you are either an individual or joint holder with your spouse. Also ensure that the bank account does not have a deposit cap greater than your withdrawal benefit. 9. I have changed my job. Should I activate my UAN again? UAN has to be activated only once. You do not have to re-activate it every time you switch jobs. 10. Do I have to pay any fee for UAN registration? No, UAN registration is free of cost and you do not have to pay any fee to activate it. Source link Read the full article

[arhanshaikh]

A Comprehensive Tutorial for Opening a Minor Demat Account Online

An online minor Demat account is a great way to educate children on the concept of investing. A minor Demat account allows minors who are below 18 years old to hold and administer securities with the help of a parent or guardian. Here's a step-by-step guide on how to open a minor Demat account online.

How to Open a Minor Demat Account Online

Here are the steps for how to open a minor Demat account.

1. Select a Stockbroker

The first step of online opening a minor Demat account is to select the stockbroker. Navigate through the stockbrokers, which are registered with either the CDSL or the NSDL. Make sure that the stockbroker you opt for has a website that is easily accessible and supports minor accounts.

2. Collect Needed Documents

Before you begin your application process, collect all the documents that you need. You will need:

PAN Card: PAN Card of the guardian and of the minor.

Birth Certificate: This will be the age proof of the minor.

Identity Proof: An Aadhar card of both the guardian and the minor.

Bank Account Details: Bank account details linked with the minor

3. Visit the Website of the Stockbroker

Visit the website of your stockbroker and look at the section that says, Open a Demat account. In this section, look for how to open a Demat account online or get a minor Demat account.

4. Fill Up Form

Fill up the required details in the online form, which asks for just basic information such as names, email addresses, etc., and phone numbers. Everything should be correct.

5. Submit KYC Information

KYC is the short form for Know Your Customer. Here, one needs to upload the identification verification of both the guardian and the minor. Generally, these include uploading scanned copies of PAN cards, birth certificates, etc.

6. Upload Required Documents

Attach all documents that are required according to the stockbroker. Make sure that all documents are clear and readable before uploading.

7. Review and Confirm Your Application

Now review your application carefully and ensure there is no mistake or missing information, so you can be certain that it has been submitted correctly.

8. Wait for Verification

You have to wait for your application to be verified by the broker, which takes some days, so wait patiently.

9. Confirmation

Once your application is verified, you will get a confirmation mail that your minor Demat account has been activated; you will also be assigned a unique Beneficiary Owner Identification Number (BO ID), which you will use in all your transactions.

Vital Considerations

Guardianship Management: The management of all the transactions into the minor's Demat account will be done until they are 18 years old.

Trading Restrictions: The minor Demat account would only allow equity delivery trading. No intraday or derivatives are permissible.

No Joint Accounts: A minor Demat account cannot be opened as a joint account.

Conclusion

Opening a minor Demat account online is an excellent way to inculcate financial literacy among children and to provide them with investment opportunities under parental guidance. It encourages responsible financial management from an early age. Further financial education resources for the interested are available on Value Broking, which would provide insights into investing and market dynamics to young investors, enabling them to make better decisions about their financial futures.

[udyamregister]

Udyam Registration Online: A Comprehensive Guide

Udyam re- Registration is a significant initiative by the Government of India aimed at promoting and supporting micro, small, and medium enterprises (MSMEs). This digital registration process not only simplifies the procedure for entrepreneurs but also opens doors to various benefits. In this article, we’ll explore the Udyam registration process, its benefits, eligibility criteria, and the importance of MSMEs in the Indian economy.

Understanding Udyam Registration

Udyam Registration is a self-declaration process that allows businesses to register as MSMEs through an online platform. This initiative was introduced to replace the earlier MSME registration processes, making it more efficient and user-friendly. The Udyam portal provides a streamlined way for businesses to register and avail themselves of various government schemes and financial support.

Importance of MSMEs in India

MSMEs play a crucial role in India’s economic development. They contribute significantly to the country’s GDP, employment generation, and exports. Here are a few reasons why MSMEs are vital:

Employment Generation: MSMEs create a vast number of jobs, absorbing a significant portion of the workforce, particularly in rural and semi-urban areas.

Economic Contribution: They contribute around 30% to India’s GDP and account for nearly 50% of total exports.

Innovation and Competitiveness: MSMEs foster innovation and competition by introducing new products and services, driving growth in various sectors.

Balanced Regional Development: By promoting entrepreneurship in rural and less-developed areas, MSMEs contribute to balanced regional development.

Eligibility Criteria for Udyam Registration

To be eligible for Udyam registration, businesses must meet specific criteria based on their investment and turnover. The classification is as follows:

Micro Enterprises: Investment up to ₹1 crore and turnover up to ₹5 crore.

Small Enterprises: Investment up to ₹10 crore and turnover up to ₹50 crore.

Medium Enterprises: Investment up to ₹50 crore and turnover up to ₹250 crore.

It’s important to note that Udyam registration is applicable to both manufacturing and service sectors.

Benefits of Udyam Registration

Registering under Udyam comes with a plethora of advantages:

Access to Government Schemes: Registered MSMEs can avail themselves of various government schemes, subsidies, and incentives designed to support small businesses.

Financial Assistance: Udyam-registered businesses have better access to loans and credit facilities from banks and financial institutions, often at lower interest rates.

Market Development: MSMEs can participate in exhibitions, trade fairs, and buyer-seller meets organized by the government, enhancing their market reach.

Tax Benefits: Udyam registration can facilitate tax concessions and exemptions, reducing the financial burden on small enterprises.

Ease of Doing Business: The online registration process simplifies documentation and reduces bureaucratic hurdles, making it easier for entrepreneurs to start and run their businesses.

Protection Against Delayed Payments: Registered MSMEs can benefit from protections under the MSME Development Act, ensuring timely payments from buyers.

How to Register for Udyam Online

The process of Udyam registration is straightforward and can be completed online in a few simple steps:

Visit the Udyam Registration Portal: Go to the official Udyam registration website (udyamregistration.gov.in).

Start Registration: Click on the ‘Register’ button on the homepage.

Enter Your Aadhar Number: Provide your 12-digit Aadhar number. Ensure that the Aadhar is linked to your mobile number for verification.

Business Details: Fill in the necessary details about your business, such as name, type, address, and bank account information.

Investment and Turnover Details: Enter the required investment and turnover figures to classify your business as micro, small, or medium.

Self-Declaration: Review all the information entered and submit the registration form. There’s no need to upload any documents, as it’s a self-declaration process.

Registration Confirmation: After submission, you will receive a confirmation message, and your Udyam Registration Number will be generated. You can download the certificate from the portal.

Common FAQs About Udyam Registration

1. Is Udyam registration mandatory?

 While Udyam registration is not mandatory for all businesses, it is highly beneficial for MSMEs to avail themselves of various government benefits.

2. How long does it take to get registered? 

The online registration process is quick and typically completed within a few hours, although you may receive your registration certificate immediately.

3. Do I need to renew my Udyam registration?

 No, Udyam registration is a one-time process and does not require renewal. However, businesses must update their registration in case of changes in their status or details.

4. Is there any fee for Udyam registration?

 There is no fee for registering under Udyam; the process is completely free of cost.

5. Can I register more than one business under Udyam? 

Yes, entrepreneurs can register multiple businesses under Udyam, provided each business meets the eligibility criteria.

Conclusion

Update Udyam Registration is a pivotal step towards empowering small businesses in India. By streamlining the registration process and providing various benefits, the government aims to create a conducive environment for MSMEs to thrive. Whether you are an aspiring entrepreneur or an established business owner, registering under Udyam can significantly enhance your growth prospects and enable you to tap into numerous government resources. Embrace this opportunity and take your business to the next level with Udyam registration!

[udyogaadhaarblog]

Unlock Your Business Potential with udyog aadhar: A Quick Registration Guide

In the ever-evolving landscape of small and medium enterprises (SMEs) in India, udyog aadhar registration stands out as a pivotal step towards business formalization and growth. The udyog aadhar system, introduced by the Government of India, simplifies the registration process for businesses, making it easier for entrepreneurs to access a range of benefits and support. In this blog, we’ll walk you through what udyog aadhar registration is, why it’s important, and how you can register your business in a few simple steps.

What is udyog aadhar?

udyog aadhar is an initiative by the Ministry of Micro, Small, and Medium Enterprises (MSME) designed to streamline the process of registering small and medium businesses in India. It provides a unique identification number to enterprises, which helps in accessing various government schemes and benefits aimed at promoting and supporting SMEs.

The udyog aadhar number is a single-window solution that replaces multiple registrations and provides businesses with an easy way to get recognized officially. This initiative aligns with the government’s vision to enhance the ease of doing business in India and foster a supportive environment for SMEs.

Why is udyog aadhar Registration Important?

Simplified Registration Process: The udyog aadhar registration process is designed to be quick and hassle-free. By consolidating multiple registrations into a single online form, it reduces the administrative burden on entrepreneurs and accelerates the formalization of businesses.

Access to Government Benefits: Businesses registered under udyog aadhar become eligible for a variety of government schemes, subsidies, and incentives. This includes financial assistance, tax benefits, and other support measures designed to boost SME growth and sustainability.

Enhanced Credibility: Having a udyog aadhar number provides official recognition to your business. This can enhance your credibility with financial institutions, investors, and potential clients, making it easier to establish and grow your business relationships.

Financial Support and Subsidies: Registered businesses can access various financial schemes such as low-interest loans and grants. This financial support is crucial for capital investment, business expansion, and managing operational costs.

Regulatory Ease: udyog aadhar registration simplifies compliance with regulatory requirements. It helps businesses meet legal obligations more efficiently, allowing them to focus on their core operations.

How to Register for udyog aadhar: A Step-by-Step Guide

Step 1

Business Name and Address: Complete name and address of your business.

Bank Account Details: Bank account number and IFSC code.

Investment Details: Information about investment in plant and machinery or equipment.

PAN Number (Optional): Though not mandatory, having a PAN number can be beneficial.

Step 2: Access the udyog aadhar Portal

Visit the Official Website: Go to https://udyog-adhaar.in/

Step 3: Initiate Registration

Select the Registration Option: Click on “For New Entrepreneurs who are not Registered yet as MSME” to begin the process.

Step 4: Enter Aadhaar Details

Input Aadhaar Number: Enter the Aadhaar number of the business owner or authorized signatory.

Authenticate with OTP: An OTP (One-Time Password) will be sent to the mobile number linked with Aadhaar. Enter this OTP to verify your identity.

Step 5: Complete the Registration Form

Fill out the registration form with the following details:

Personal Information: Name of the business owner, Aadhaar number, and PAN number (if available).

Business Details: Business name, type of enterprise (micro, small, medium), business address, bank account details, investment details, and number of employees.

Step 6: Review and Submit

Verify Information: Double-check all the details entered in the form to ensure accuracy.

Submit the Form: Click on the “Submit” button to complete the registration process.

Step 7: Obtain Acknowledgment

Receive Acknowledgment Number: An acknowledgment number will be generated after submission.

Download and Save: Download and print the acknowledgment receipt, which includes your udyog aadhar number and serves as proof of registration.

Step 8: Verification and Certificate

Verification: Your submitted details will be verified by the authorities.

Download Certificate: Once verified, you will receive an udyog aadhar number and certificate, which you can download from the portal.

Step 9: Post-Registration

Update Information: If there are any changes in your business details, update them through the udyog aadhar portal.

Utilize Benefits: Use your udyog aadhar number to apply for government schemes, financial assistance, and other benefits.

Note:- Apply For Udyam Re-Registration Through Udyam Portal

Conclusion

udyog aadhar registration is a crucial step for small and medium enterprises aiming to formalize their operations and tap into government support mechanisms. With its simplified process, access to financial benefits, and enhanced business credibility, udyog aadhar provides a robust foundation for entrepreneurial success. By following the straightforward steps outlined above, you can efficiently register your business and begin leveraging the numerous advantages that udyog aadhar offers. Embrace this opportunity to streamline your business operations, access valuable resources, and drive growth in a supportive regulatory environment.

[everydayloanindia1]

Need a small cash loan on Aadhar card? It's quick and easy! Many financial institutions offer instant loans with minimal documentation. Ensure your Aadhaar card is linked to your bank account and mobile number. Simply apply online or visit a branch, provide your Aadhaar details, and complete the verification process. Once approved, the loan amount is disbursed directly to your account. Get the funds you need in no time with a small cash loan on Aadhaar card.

[instantpay]

Identity Verification - How to Check PAN Aadhaar Linking Status with API

In the rapidly evolving digital landscape, the significance of robust identity verification cannot be overstated, particularly in contexts like financial services and online transactions. Aadhaar, India's unique identification project, stands at the forefront of this revolution, offering a streamlined, secure method for verifying identities.

The Aadhaar Linking Status enhances digital platform security, compliance, and user experience. It is a robust security measure that leverages biometric data and demographic information, ensuring that individual identities are accurately verified. This process significantly reduces the risk of identity fraud and unauthorized access. 

Additionally, it ensures compliance with various regulatory requirements, particularly in financial services, by establishing a reliable method of identity verification. Aadhaar linking simplifies access to multiple services for users, offering a seamless and integrated experience across different digital platforms. This system streamlines processes, making transactions both safer and more user-friendly.

This blog aims to delve into the intricacies of Aadhaar Linking Status, exploring its role in enhancing security measures, ensuring compliance, simplifying user experiences in digital platforms, and our API's role in streamlining this process. We will uncover how Aadhaar Linking Status integrates digital identity verification into everyday transactions and services.

Significance of Aadhar-Pan Linking

Integrating Aadhaar with PAN is a significant move towards fortifying the financial infrastructure in India. This linkage transcends being merely a regulatory mandate; it represents a strategic shift towards a transparent and efficient financial ecosystem. By enabling the government to monitor and track taxable transactions effectively, it plays a crucial role in curbing tax evasion and promoting a more equitable tax system. 

For individuals, linking Aadhaar with PAN is essential for uninterrupted access to various financial services, including bank account operations, investment activities, and income tax filings. Non-compliance with this requirement risks rendering the PAN card inoperative, potentially disrupting these essential financial activities.

How can I check my Aadhaar PAN link status online?

There are two primary methods available to ascertain the linkage statute: primary methods are online. These methods provide a straightforward and efficient means to verify the connection between your Aadhaar and PAN, ensuring compliance with regulatory requirements and facilitating seamless financial transactions. 

Each method offers a user-friendly approach, allowing individuals to check their linkage status through reliable online platforms quickly.

Aadhaar PAN card link status without logging into the Income Tax portal

Step 1: Check Income Tax e-filing portal. 

Step 2: Head towards the ‘Quick Links’ heading, and click on the ‘Link Aadhaar Status’.

Step 3: Enter the ‘PAN number’ and ‘Aadhaar Number’ and click the ‘View Link Aadhaar Status’ button.

Upon successfully validating the Aadhaar-PAN linkage, users will receive a confirmation message. This message will indicate that the user's PAN is already linked to the provided Aadhaar number, confirming the successful completion of the linkage process. This notification serves as an assurance that the user's records are updated and in compliance with the necessary regulatory requirements.

When the Aadhaar-PAN linkage is being processed, users will receive a notification stating that their request for linking Aadhaar with PAN has been forwarded to the UIDAI for validation. This message prompts users to revisit the portal later and check their linkage status via the homepage's 'Link Aadhaar Status' option. 

Conversely, suppose a user's Aadhaar is not linked with their PAN. In that case, an alert will appear indicating the absence of linkage and guiding the user to link their Aadhaar with their PAN through the 'Link Aadhaar' option.

Aadhaar PAN card link status by logging into the Income Tax portal

To check the Aadhaar-PAN linking status, follow these professional steps:

Access the Income Tax e-filing portal and log in.

Navigate to the 'Dashboard' on the homepage and select 'Link Aadhaar Status'.

Alternatively, visit 'My Profile' and choose 'Link Aadhaar Status'.

If your Aadhaar is already linked to your PAN, the system will display your Aadhaar number. In cases where Aadhaar is not merged with PAN, an option to connect will be presented. For requests pending validation by UIDAI, the status should be checked later.

Accessing Aadhaar-PAN Linking Status: Direct Online Portal

Here is the direct link to check the Aadhaar PAN card link status - 

https://eportal.incometax.gov.in/iec/foservices/#/pre-login/link-aadhaar-status

To ascertain the status of your Aadhaar-PAN linkage, input your PAN and Aadhaar numbers into the designated fields and select the 'View Link Aadhaar Status' option. 

Upon doing so, the current status of your PAN-Aadhaar linkage will be displayed on your screen, providing you with the necessary information regarding the linkage process.

Verify the linkage status of your Aadhaar with PAN via SMS

Step 1 - Compose a message in the following format: UIDPAN [Your 12-digit Aadhaar Number] [Your 10-digit PAN Number].

Step 2 - Send this message to either 567678 or 56161. 

Step 3 - Await a confirmation response from the government service.

If linked, a confirmation stating “Aadhaar is already associated with PAN [number] in ITD database” will be received. If not linked, you will receive a message indicating that “Aadhaar is not associated with PAN [number] in ITD database.” This service facilitates a convenient and efficient method for individuals to ensure their compliance with government regulations.

Link Aadhaar with a PAN card online

If your Aadhaar is not linked with your PAN card, initiating the linking process on the Income Tax website is imperative, which may involve a late penalty fee of Rs.1,000. You may refer to the detailed steps provided on the website for comprehensive guidance on paying the penalty and executing the Aadhaar-PAN linkage. Linking Aadhaar with PAN is streamlined for user convenience and can be summarized in a few key steps.

To link your Aadhaar with PAN card in a professional setting, follow these steps:

Access the Income Tax e-filing portal.

Select 'Link Aadhaar' under the 'Quick Links' section.

Input your PAN and Aadhaar numbers and click 'Validate'.

Proceed to 'e-Pay Tax' for payment.

Enter PAN and mobile number, then continue.

Under 'Income Tax', click 'Proceed'.

Complete the payment process.

Return to 'Link Aadhaar' under 'Quick Links'.

Re-enter PAN and Aadhaar details, then validate.

Add your Aadhaar number, mobile number, and OTP for final validation.

Your request will then be processed for validation by UIDAI. Alternatively, you can also visit a PAN card centre to submit a linking request form manually.

Fees for Aadhaar PAN card linking

The linkage of PAN with Aadhaar was complimentary until March 31, 2022. Post this date, up until June 30, 2022, a nominal penalty of Rs. 500 was applicable for linking. Subsequently, from July 1, 2022, the penalty amount for linking PAN with Aadhaar was revised to Rs. 1,000. It is imperative to pay this penalty for linking before June 30, 2023, to avoid the PAN card becoming inoperative starting July 1, 2023. This step ensures compliance with regulatory mandates and maintains the validity of the PAN card.

Who all should link Aadhaar with a PAN card? 

Under Section 139AA of the Income Tax Act, all PAN cardholders must link their Aadhaar by June 30, 2023, with a stipulated penalty of Rs.1,000 for non-compliance, after which the PAN card will become inoperative. Exceptions to this requirement include non-resident Indians (NRIs), citizens above 80 years of age, and residents of Assam, Meghalaya, Jammu, and Kashmir. It is advised to verify your Aadhaar-PAN link status and ensure linkage by the specified deadline to maintain the operational level of your PAN card.

Now let’s understand Aadhaar-PAN linking status API

Aadhaar, a critical 12-digit identification number in India, necessitates using Aadhaar Verification API for reliable authentication. Given its importance in identification across various platforms, integrating Aadhaar API is crucial. At Instantpay, we offer specialised services to address the challenges of fraudulent Aadhaar use. 

Our advanced methodology and robust algorithms are designed to validate Aadhaar details accurately, thereby supporting businesses and individuals in mitigating risks associated with counterfeit Aadhaar cardholders. Our verification process, which involves simply uploading Aadhaar data or a snapshot, ensures both efficiency and reliability in confirming Aadhaar credentials across India.

USP of Instantpay Aadhaar-PAN linking status API

The Aadhaar Verification API is meticulously developed using HTTP standard verbs and RESTful endpoints, ensuring high precision and intelligence in its architecture. This API is designed for optimal functionality and efficiency. Moreover, it incorporates comprehensive documentation, facilitating a seamless integration experience akin to a plug-and-play setup. This strategic approach ensures that the API performs effectively and integrates smoothly into various systems.

The API access is facilitated through HTTP requests directed to a specific version endpoint URL, utilising GET or POST methods for data retrieval. Each endpoint is secured with SSL-enabled HTTPS, ensuring data integrity and security. The API is structured with version control for methods, parameters, and other elements, requiring the inclusion of a version number in every call. Multiple versions with distinct endpoints are available. 

Additionally, responses are systematically structured within a 'data' tag, typically including a status code, success flag, type, and address in each reaction, ensuring clarity and consistency in data delivery.

In the event of a failure, the API implements specific response codes for clarity and diagnostic purposes:

A 2xx series code indicates successful execution of the operation.

A 4xx series code signifies an error originating from the user's end.                

These codes are crucial for identifying the nature of the issue and facilitating appropriate troubleshooting measures.

Industry Use Cases of Aadhaar Validation API

The Aadhaar Validation API is a powerful tool for verifying the authenticity of Aadhaar cards in India. Its applications go beyond simple identity verification, offering various benefits across various sectors. Here are some critical use cases for the Aadhaar Validation API in India:

[wptb id=2629]

Use Cases of Aadhaar Validation API

[wptb id=2641]

Digitalising Aadhaar verification through Instantpay's Aadhaar-linking status API unlocks significant benefits for institutions across diverse sectors. This innovative solution simplifies and expedites identity verification, offering immediate value in numerous scenarios.

Instantpay's API eliminates the complexities of implementing traditional UID verification methods. Removing tedious paperwork and manual processes offers a seamless and user-friendly experience for both institutions and individuals. The intuitive click-and-upload functionality significantly reduces friction and streamlines the verification process.

While immediate adoption of the API is highly encouraged, we recognise the importance of tailoring its integration to specific needs and workflows. Instantpay offers comprehensive support and guidance to ensure a smooth and efficient implementation, maximising the time and energy savings potential. By leveraging Instantpay's Aadhaar Verification API, institutions can unlock a new era of efficient, secure, and user-friendly identity validation, ultimately enhancing operational effectiveness and delivering excellent value to all stakeholders.

Frequently Asked Questions

Linking PAN with Aadhaar after the Deadline

Q: Can I link my PAN with my Aadhaar now?

A: Yes, you can link your PAN with your Aadhaar card even after the last date on the Income Tax e-filing portal after paying the penalty of Rs.1,000.

Reactivating an Inoperative PAN

Q: My PAN has become inoperative. What should I do?

A: When your PAN card has become inoperative due to its non-linking with your Aadhaar card, follow the below process to activate your PAN card:

Visit the Income Tax e-filing portal.

Pay the fine of Rs.1,000 through the 'e-Pay Tax' option. You can find the detailed process to pay the penalty here.

After paying the penalty, click the 'Link Aadhaar' option on the Income Tax e-filing portal.

Enter the 'PAN Number' and 'Aadhaar Number' and click the 'Validate' button.

Enter the Aadhaar number, mobile number, OTP and click 'Validate'.

The request to link PAN-Aadhaar will be sent to the UIDAI. However, the reactivation process will take around 30 days from the submission date of the request to link the Aadhaar-PAN and make the PAN card operational again.

Checking Aadhaar PAN Linking Status

Q: What is the status shown when I check Aadhaar PAN linking status?

A: The different status shown when you check your Aadhaar PAN linking status is as follows:

Aadhaar is linked with a PAN card.

Aadhaar is not linked with a PAN card.

The Aadhaar PAN linking request is pending for approval from the UIDAI.

Documents Required for Linking PAN with Aadhaar

Q: What are the documents required to link PAN with Aadhaar?

A: No documents are required to link your PAN with your Aadhaar card. You must know your Aadhaar number and PAN number before sending a request to link PAN with Aadhaar card. You must also have an Aadhaar-linked mobile number for which the OTP will be sent for verification to link your Aadhaar with PAN card. You must pay the penalty before sending the request for linking Aadhaar with your PAN card.

Rectifying Mismatches

Q: What should I do when there is a mismatch in the details of my PAN and Aadhaar card?

A: You must rectify the mismatches in the details of your PAN card and Aadhaar card. The information provided in your PAN card and Aadhaar card, such as name, address, etc., should be accurate and match each other. If there are any errors, update the information in your PAN card or Aadhaar card by visiting the NSDL portal/PAN centres or UIDAI portal/Aadhaar card centers, respectively.

Linking with Demographic Mismatch

Q: Can I link my Aadhaar with a PAN card when there is a mismatch in details?

A: No. The details in your PAN and Aadhaar must match to link your Aadhaar with the PAN card. However, where there is a demographic mismatch in Aadhaar and PAN cards, such as name, date of birth, and gender, you can choose the biometric-based authentication process to link your Aadhaar with PAN. The biometric-based authentication process is available at dedicated centers operated by PAN service providers, i.e., Protean and UTIITSL.

Penalty and Due Date

Q: What is the amount of fees payable for Aadhaar-PAN linking?

A: The fee to pay Aadhaar-PAN linking is Rs.1,000, which should be paid in a single challan.

Q: Should I pay the penalty before applying for Aadhaar-PAN card linking?

A: Yes. You can apply for PAN-Aadhaar linking only after paying the penalty of Rs.1,000.

Exempt Categories

Q: Is Aadhaar-PAN linking compulsory for all?

A: All taxpayers must link their Aadhaar-PAN before 30 June 2023, else their PAN will be inoperative. However, the following persons are not required to link their Aadhaar with PAN:

Persons residing in the States of Jammu and Kashmir, Assam, and Meghalaya.

A non-resident person as per the Income-tax Act, 1961.

Persons who are not citizens of India.

Persons of eighty years or more at any time during the previous year.

Valid Payments for Linking

Q: Which payments are considered valid for Aadhaar-PAN linking?

A: The payments done through e-Pay Tax functionality on the Income Tax Filing Portal for an amount of Rs.1,000 from 1st July 2022 in a single challan are considered as valid for Aadhaar-PAN linking.

Multiple Payments

Q: Can I make multiple payments under minor code 500 to pay the penalty?

A: No, there should not be an aggregation of challans with ‘Minor head 500’ to pay the amount of Rs.1,000.

Reactivation Time

Q: How many days does it take for my PAN card to be operative?

A: If your PAN card is inoperative due to non-linking it with an Aadhaar card, it will become operative again within 30 days after submitting the Aadhaar-PAN linking request.

Last Date for Linking

Q: What is the last date to link PAN with Aadhaar?

A: The last date to link PAN with Aadhaar is 30 June 2023. If your PAN is not linked with Aadhaar within 30 June, it will become inoperative from 1 July 2023. However, you can submit the Aadhaar-PAN linking request after 30 June 2023 by paying the penalty to make your PAN operative again.

[stockmarketknowledge]

What is demat account and how to open for stock trading ?

A Demat (Dematerialized) account is an account that holds financial securities in an electronic or dematerialized form. It is a crucial component for investors in stock markets, allowing them to buy, sell, and hold shares and other financial instruments in a digital format. This electronic form of holding securities eliminates the need for physical share certificates and facilitates seamless and secure trading.

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To open a Demat account for stock trading, you can follow these steps:

Choose a Depository Participant (DP): A Depository Participant is an intermediary between the investor and the depository. Two main depositories in India are the National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL). Various financial institutions and banks act as DPs.

Select a Stockbroker: You need a stockbroker to facilitate your trades on the stock exchange. The broker will execute your buy and sell orders. Ensure that the broker is registered with SEBI (Securities and Exchange Board of India).

Complete the Account Opening Form: Contact the chosen DP or broker and fill out the account opening form. You'll need to provide personal details, PAN card, address proof, bank statements, and passport-sized photographs.

Submit KYC Documents: KYC (Know Your Customer) documents are essential for opening a Demat account. These may include your PAN card, Aadhar card, passport, voter ID, or driver's license. Make sure you have both identity and address proof documents.

In-Person Verification (IPV): Some DPs may require you to undergo an IPV process, where you need to verify your identity in person. This can be done through a video call or by visiting the DP's office.

Sign the Agreement: Read and sign the Demat account agreement and the terms and conditions carefully. This document outlines the rights and obligations of both the account holder and the DP.

Receive Your Demat Account Number: Once your application is processed and approved, you will receive a Demat account number. This number is essential for any future transactions.

Link Your Demat Account with Trading Account: If you haven't done so already, link your Demat account with a trading account. This account is where you place buy and sell orders for stocks.

Start Trading: Once everything is set up, you can start trading in the stock market through your Demat and trading accounts.

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LTP Calculator the best trading application in india.

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Remember to keep your account information and login credentials secure, and regularly monitor your investments. Always stay informed about market trends and make informed decisions when trading in stocks.

[gyantechnolgy]

How to check which bank account is linked to Aadhar card?

[my-global-information]

Simple Guide to UP Ration Card Download, Status Check, and More

In Uttar Pradesh, the Ration Card is necessary for subsidised access to vital goods. This document helps households below the poverty level buy food grains and other basics and identifies them. This page will explain Ration Card download, status checks, and UP's Ration Card status relevance.

Understanding UP Ration Card Significance

Many Uttar Pradesh households depend on their Ration Card. It verifies identities and assures worthy households get government subsidies for food grains, fuel, and other necessities. The Ration Card also provides scholarships, LPG subsidies, and more. These rights need a current Ration Card UP.

Steps to Download Ration Cards

Online services make Uttar Pradesh Ration Card applications easier. Steps to download your Ration Card:

Visit the Official Website: Visit the Uttar Pradesh Food and Civil Supplies Department website.

Ration Card Section: Visit the website's Ration Card area. Search for new apps or Ration Card services.

Provide Details: Provide your Aadhar number, family information, and other essential information.

Identity, residence, and income certificates must be uploaded.

After submission, the application is verified. Complete your information accurately to prevent delays.

Download Ration Card: After approval, download the Ration Card from the website. It is generally a PDF that you can download and print.

Checking Ration Card Status

You must check your Ration Card application status to keep informed. How to do it:

Visit the Official Website for Ration Card Download: Visit the Uttar Pradesh Food and Civil Supplies Department website.

Track Application: Click ‘Track Application’ or ‘Check Status’ on the webpage.

Enter App Number: Enter your Ration Card application number and other info.

Check Status: View your Ration Card application status after entering the required information. It shows if your application is pending, granted, or denied.

Importance of UP Ration Card

Many Uttar Pradesh households depend on their Ration Cards. Here are some reasons for its importance:

The Ration Card lets households buy critical food grains at significantly discounted prices from government-run Fair Price Shops, providing food security for everyone.

Ration Cards provide access to government health care, education, and financial aid.

Proof of Identity and Residence: The Ration Card is required for government services, bank accounts, and more.

Linking your Ration Card to your LPG connection gives you cooking gas subsidies, decreasing household costs.

Education and Scholarships: Ration Cards are needed to receive government scholarships and educational advantages, assuring a better future for youth.

Conclusion

Ration Cards are more than a document in Uttar Pradesh—they provide assistance and security for many households. The application procedure is easier thanks to government online services. Every qualified person may protect their family by knowing the Ration Card and completing the easy download and status check instructions. Take advantage of these online services to apply for your Ration Card and guarantee a brighter future for your family.

[tradeplus-online]

Demat Account for IPOs: How to Apply and What to Expect

Getting Started with IPO Investments: The Role of a Demat Account Introduction Investing in Initial Public Offerings (IPOs) can provide an exciting opportunity to expand one's portfolio. However, it is necessary to have a Dematerialized Account (Demat) in order to participate in the IPO process. In this guide, we will walk you through the process of applying for an IPO through your Demat account and what to expect during the IPO application process. Step 1 :  Depository Participant (DP) Before applying for an Initial Public Offering (IPO), you need to choose a Depository Participant (DP) to open your Demat account. DPs are appointed by the CDSL and NSDL respectively. You can select a bank, financial institution, or brokerage firm as your Depositary Provider. It is important to conduct research and compare the fees, service, and customer testimonials to find the best DP for you. Step 2 :  Demat Account Demat accounts are basically digital wallets for stocks and bonds, so you don't need physical share certificates to keep track of them. You need to have at least one Demat account and a registered DP to apply for an Initial Public Offering (IPO). Once you've picked a DP, you can get started with setting up your Demat account. This process usually involves: (i) Filling out an account opening form - This form requires your personal information, financial details, and KYC (Know Your Customer) documentation, such as Aadhar card, PAN card, and address proof.

(ii) Verification - The DP will verify your documents and they may even conduct an in-person verification , if necessary.

(iii) Account Activation - Once your documents are verified your Demat account will get activated and you will receive the necessary credentials for Login. Step 3 : Link Bank Account In order to apply for an Initial Public Offering (IPO), you’ll need to establish a link between your bank account and Demat.This helps in smooth transfer of funds during the IPO filing process. Ensure that the bank account you link is in your name and is the same as the one mentioned in your Demat account. Step 4 : IPO application process Now that you’ve got your Demat account set up, it’s time to apply for an Initial Public Offering (IPO). Here's what you should know about the process:

a) IPO announcement - Stay tuned to financial news and stock exchange announcements about upcoming Initial Public Offering (IPO) announcements. IPO details, including the issue price, issue size, and application dates, will be provided. b) Fill the Application form - Your DP will issue an application form for the Initial Public Offering (IPO). Alternatively, you may submit an application online through the trading portal of your Depository Participant. Fill in the necessary details, including the number of shares you want to apply for and the price you're willing to pay. c) Payment - Transfer the money you require to your connected bank account. Ensure that you have enough money to pay for your application.

d) Submission - To apply for the IPO, you need to submit the form either you can fill out the application form or you can apply online via your DP  portal. l. You will get a unique application number as a confirmation. e) Allotment - Once the IPO subscription period is over, the company will distribute shares based on the subscription demand. If your request is accepted, you will get your allotted shares in your Demat account. If you oversubscribe, you may get part of your required shares. f) Refund - If you don’t get your full allocation, any excess funds will be refunded to your bank account. Step 5 : Post IPO Trading Once you’ve been allocated shares, you can trade them on the stock exchange like any other stock in your Demat account. You have the option to either retain the shares for a longer period of time or to sell them in order to make a profit. Conclusion 

Opening a Demat account is one of the most important steps in IPO and stock market participation.  It provides a secure and convenient way to hold and trade securities electronically. By following the steps above, you will be able to successfully apply for an IPO through your demat account and potentially benefit from new investment opportunities in the market.  Just make sure to do a complete research on the IPO and consult a financial expert if needed to make a decision. Have a great time investing ! 

[sanaya13103]

Why is it Important to Link Aadhar Card and PAN Card for Finance: A Comprehensive Guide

In an increasingly digital world, the linkage between important identification documents plays a pivotal role in ensuring secure and efficient financial transactions. The connection between Aadhar card and PAN card has garnered significant attention due to its multifaceted benefits. This comprehensive guide delves into the reasons why it's crucial to link Aadhar card and PAN card loan, highlighting the advantages, the legal framework, and how this linkage contributes to a more streamlined financial ecosystem.

Why is it Important to Link Aadhar Card and PAN Card for Finance?

The linkage of Aadhar card and PAN card serves as a linchpin for various financial activities. It brings numerous benefits to individuals and the financial system as a whole. Here's why this linkage holds such significance:

Streamlined Identification Process

Linking Aadhar card and PAN card creates a unified identification process. This synergy eliminates the need to provide separate documents for different financial transactions, simplifying authentication procedures. This efficiency is particularly beneficial in activities like opening bank accounts, applying for loans, and filing taxes.

Enhanced Security and Anti-Fraud Measures

The integration of Aadhar and PAN helps curb fraudulent activities and identity theft. By cross-referencing biometric data and personal information, institutions can verify the authenticity of an individual, reducing the risk of unauthorized transactions and financial fraud.

Facilitation of Cashless Transactions

With the push towards a cashless economy, the linkage of Aadhar and PAN cards becomes even more vital. It enables individuals to seamlessly conduct digital transactions, such as online shopping, bill payments, and fund transfers. This convenience aligns with the government's vision of a digitally empowered nation.

Simplified Taxation

Aadhar-PAN linkage streamlines the tax filing process. It ensures that tax authorities can accurately match an individual's income and financial activities, reducing discrepancies and potential errors in tax assessments. This linkage is particularly helpful for individuals who have multiple sources of income.

Compliance with Regulatory Requirements

The Indian government mandates the linkage of Aadhar and PAN cards as part of its regulatory framework. Complying with this requirement is essential to avoid penalties and legal complications. It underscores the government's commitment to transparency and efficient financial management.

Establishing Financial Credibility

Linking these two cards enhances an individual's financial credibility. Lenders and financial institutions often use PAN and Aadhar data to assess an individual's creditworthiness. A positive credit profile opens doors to better loan terms and financial opportunities.

Enabling Government Subsidies and Schemes

Many government subsidies and welfare schemes are directly linked to Aadhar card data. By linking PAN with Aadhar, individuals can seamlessly access these benefits without the need for extensive paperwork, ensuring timely and hassle-free assistance.

Promoting Financial Inclusion

The linkage of Aadhar and PAN cards contributes to greater financial inclusion. It allows individuals without traditional identification documents to access financial services, fostering economic empowerment and reducing disparities.

Conclusion

The linkage of Aadhar card and PAN card for finance is an integral step towards a more secure, efficient, and transparent financial ecosystem. This connection not only streamlines identification and transactions but also contributes to broader national goals of financial inclusion and a digitized economy. As individuals, embracing this linkage aligns with both legal requirements and the potential for enhanced financial opportunities. So, don't delay – link your Aadhar card and PAN card today to enjoy a safer and more streamlined financial journey.

[meghalayacareer]

How To Link Your PAN Card With Aadhaar?

Link Your PAN Card With Aadhaar: It has been made mandatory to link your PAN card with Aadhaar. Your income tax return would not be processed if your Aadhaar is not linked with your PAN. Linking your PAN with Aadhaar is also indispensable if you are carrying out banking transactions for an amount of Rs.50,000 and above. According to the IT Department, if you do not link your PAN to Aadhaar, then it will become invalid under Section-139AA of the Income Tax Act. And once it becomes invalid, you will not even be able to file ITR online and your tax refund may get stuck. Apart from this, you will not be able to use PAN in any financial transaction. As per the latest Govt. of India directive, if you fail to do PAN Aadhaar linking, your PAN will become ‘inoperative’ after 30th June 2023. If the PAN card is not linked to Aadhaar, an individual will also not be able to invest in mutual funds, stocks or open a bank account among other things as furnishing a PAN card in all those cases is a must. How to Link PAN Card with Aadhaar? Linking a PAN card with an Aadhaar card is very simple and you can link your Aadhaar number with your PAN in any of the two ways: Step 1: Using the SMS facility Step 2: Use the facility on the e-Filing portal https://incometaxindiaefiling.gov.in How to Link PAN Card with Aadhaar via SMS? To link your PAN with your Aadhaar by sending an SMS, you need to follow the steps mentioned below: Step 1: Type UIDPAN on your mobile Step 2: Send it to 567678 or 56161 Example: UIDPAN 123456789123 ABCDE1234F How to Link PAN Card with Aadhaar via Income Tax e-filing website? Here is the procedure to link your pan card with your Aadhaar through Income Tax e-filing website Step 1: Go to www.incometax.gov.in. Scroll down to reach the ‘Our Service tab. Step 2: Click on the "Link Aadhaar" option. A new page will be opened. Step 3: Enter the following credentials # PAN; # Aadhaar no. # Name as exactly specified on the Aadhaar card and # Mobile number   In case only the year of birth is mentioned in your Aadhaar card, then select the check box asking “I have only year of birth on my Aadhaar card”. Tick on the box that says, “I agree to validate my Aadhaar details”. It is mandatory to select this check box to proceed further with Aadhaar linking. Step 3: Click on the "Link Aadhar" tab. Step 4: You will receive a 6-digit Time Password on your mobile number. Enter this OTP on the verification page on your screen. Once you enter the OTP, click on the ‘Validate’ button. How to Check the Status of PAN Card Link with Aadhaar? Here are the key steps to check whether your PAN Card is linked with your Aadhaar successfully or not. Step 1: Visit the Income Tax Department’s official website and go to Aadhaar Status or click on the link incometaxindiaefiling.gov.in/aadhaarstatus. Step 2: Enter your PAN and Aadhaar Number. Step 3: Next click on ‘View Link Aadhaar Status’. Step 4: If it was already linked, a message will be popped up - "Your PAN is linked to Aadhaar number  " Important Web-Links of PAN – Aadhaar Linking Link PAN Card with Aadhaar Click Here Check PAN Aadhaar Link Status Click Here Official Website Click Here The consequence of not Linking PAN – Aadhaar An individual who does not link their Aadhaar card with a PAN card by 30th June 2023 stands to lose the operability of their PAN card. It is to be noted that a PAN Card is needed to fulfil Know Your Customer (KYC) norms from clearing houses to banks and even e-wallets. If a PAN card becomes, all these services will invariably be affected. Even if you miss the deadline, you can still link PAN-Aadhaar but with a penalty of Rs 1,000 and other consequences as well. An inoperative PAN card will affect one's bank account savings as the interest earned on your bank account savings. The TDS (Tax Deduction at Source) levied on interest beyond Rs 10,000 annually will double to 20 per cent in the event of the bank not being linked to PAN Card. The TDS levied on interest beyond Rs 10,000 for bank accounts linked with PAN card is 10%. Also, a penalty of Rs 10,000 may apply under Section 272B of the Income Tax Act, if you fail to link the two documents by the deadline and your PAN becomes inoperative and it will be assumed that your PAN has not been furnished as required by the law. Read the full article

[demata6853]

What is Demat account ?

Are you planning to start investing in the stock market ? if yes then you must know “ what is demat account “. Demat account is a digital account where you can hold your shares and all types of securities. Without demat you can’t hold your share. In this article we will discuss what is demat account, the benefits of a demat account, how demat account works and how to open demat account.

What is Demat Account ?

A demat account stands for “ Dematerialized Account “, It is an Electronic account also known as digital account that holds your shares and securities in a dematerialized form. In simple words we can say it is similar to a bank account, but in a bank you are holding cash and here you are holding securities.

Why is Demat account necessary?

Open Demat Account in Upstox

Opening an account with Upstox is fast, easy, and completely online. With Upstox,

Sign up Now

Types of Demat account

There are two types of demat accounts.

Regular demat account : A regular demat account is used for trading in the stock market.

Basic Service Demat Account (BSDA) : Basic service demat account is used for these investors who can hold a maximum 2 lakh of securities in this demat account.

Benefit of Demat account

Safe and secure : Demat accounts hold your shares and securities safe and secure in electronic form.

Easy to Manage : A demat account holds in electronic form so you no need to manage physically, it is easy to manage digital form.

No Stamp duty : trading in physical shares required stamp duty payment. But in demat account holders no need to pay stamp duty.

Speed transactions: Buying and selling shares can be done quickly in a demat account.

How does a Demat account work?

Open Demat Account in Zerodha

Opening an account with Zerodha is a quick and simple process. With India’s largest stockbroker.

Sign up Now

How to open demat account?

Opening a demat account is a very easy process, you need to follow the Below steps.

Step 1. Choose a popular broker, who is registered with SEBI. you can’t open demat account directly so you need to open demat account under a broker.

List of Top 10 stock broker in India

Step 2. Visit the broker website to open demat account. Nowadays you can open demat account online directly on a broker website.

like : Zerodha, Upstox, Groww etc.

Step 3. Next you need to sign up and fulfil all details, you can see what details you need to give in your broker website.

Step 4. Upload all documents, which are required in your broker website. Make sure that your aadhar card links with your PAN card.

Step 5. After the complete upload document process you need to do KYC verification with E- signature.

Step 6. After complete verification you need to wait 2–3 working days to activate your account. After activating your account you can start investing in the stock market.

conclusion

FAQs

What are the charges to open demat account ?

Charges to open demat account depend on brokers. Some brokers charge to open demat accounts and some brokers do not charge to open demat accounts.

2. Can I have multiple demat accounts?

Yes you can have multiple demat accounts with different brokers.

3. What is the difference between a demat account and a trading account?

Demat account is used to hold your shares and securities, whereas a trading account is used to buy and sell shares.

4. Can I convert physical shares to electronic form?

Yes, you can convert your physical shares to electronic form . After opening a demat account you need to deposit your physical shares certificate to your broker.

5. Is it Mandatory to have a demat account for trading in the stock market?

Yes, it is mandatory to have a demat account to trade in the stock market.

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[infinysolution]

Guidelines to Recover Shares in IEPF

IEPF, which stands for Investor Education and Protection Fund, is mainly set up to protect the interests of investors. It also spreads awareness among investors about it by mentioning all the details on its website. Many times, people mistakenly fail to claim their shares which were transferred to IEPF by the Company, resulting in lost shares. And crores of such unclaimed funds take the shape of old equity shares, dividends, debentures, and more which pile up with IEPF.

If your funds are also lying with IEPF, you must track them and claim your shares in IEPF as soon as possible. Speaking of lost shares recovery, in this article, we will discuss the guidelines for recovering shares in IEPF. So, let’s get started!

Required Documents for lost share recovery from IEPF

Claim form with claimant’s signature.

Indemnity Bond claimant’s signature.

Copy of Acknowledgement bearing SRN number duly attested by the claimant.

Advance stamped receipt

Aadhar Card

PAN Card

Original certificate of refund of matured deposit or bond

Share certificate

Client master list duly attested by the claimant.

Proof of Entitlement

Canceled Cheque

Passport (including OCI and PIO for NRIs and foreigners)

Death certificate of the joint holder, in case he is deceased.

Along with these, IEPF Authority mandatorily requires the verification report by the Nodal Officer or Registrar of the bank.

Transfer of Unclaimed funds to IEPF

The Company must transfer the funds which are unclaimed or not paid for more than seven years to IEPF, along with interest accrued. The Company has to submit all the transfer details to the IEPF authority. And the shareholder can only reclaim their lost shares transferred to IEPF by applying to the IEPF authority as it maintains and monitors the accounts’ details.

How to recover the lost shares from IEPF?

Follow these steps for IEPF shares recovery,

Filing to IEPF Authority

The claimant must submit Form IEPF-5 on the MCA portal for recovery of lost shares. Information that needs to be provided by the claimants are:

The claimant’s details

Company details from which the payment is due, including the CIN number

Details of funds of dividend to be claimed

Details of shares to be claimed

Details of bank accounts linked to the Aadhaar card, from where the claim will be refunded

Demat account number

Aadhaar number

Submit the claim to the Company

The next step is sending a copy of the filled form to the Company’s IEPF Nodal Officer or Registrar. It should be sent in an envelope labeled “Claim for a refund from IEPA Authority.” Required documents are:

Copy of filled form IEPF-5 with claimant’s signature

Copy of Acknowledgement with SRN number

Receipt of original advance stamped along with the signature of claimant and witnesses.

Original indemnity bond with claimant signature on non-judicial stamp paper with the amount mentioned under the stamp act.

Aadhaar card

Proof of entitlement

Passport (including OCI and PIO for NRIs and foreigners)

Original share certificates or copy of transaction statement

Canceled cheque

Copy of Demat account’s client master list

Submit the claim from the Company to IEPF Authority

Within 15 days of receiving the claim, the Company needs to provide the verification report and submit it to the IEPF Authority, attached with the documentation of the claimant.

Refund from IEPF to Claimant

The final procedure is of IEPF Authority, where they have to decide on the reimbursement application given by the claimant within 60 days. On approval, they issue a refund sanction order on the condition that the claimant shares the funds with the competent authority. And after verifying the claimant’s entitlement, IEPF Authority, along with the Drawing and Disbursing Officer, sends the bill to the Pay to Account officer, who makes the payment.

Assistance from financial firms

Taking assistance from financial firms helps in recovering lost shares without any hurdles. And at Infiny solutions, you get assistance from professional certified financial and legal advisors. It solves all the problems occurring in IEPF shares recovery. Infinity Solutions helps in recovering unclaimed funds, including,

Issue of duplicate shares

Recovery of lost shares

Claims shares from IEPF

Conclusion

In conclusion, we can say that, for IEPF shares recovery, claimants need to fill out a prescribed form, Form IEPF-5 and submit it to the IEPF Nodal Officer or registrar of the Company. The Ministry of Corporate Affairs presented the Investor Education and Protection Fund (IEPF) rules in 2017 under Section 125 of the Companies Act, 2013. This states that any unclaimed dividend for more than seven years, counting from its date of declaration, gets transferred to the IEPF. And those who intend to recover their lost shares need to complete their transmission procedure from the Company. And once it’s filled and goes to the Nodal officer, they verify it and send the report to the IEPF authority, who later issues a receipt of the transfer and sanction letter for the refund to the claimant. After this, the shares are transferred to the claimant.

[sunilk121]

How to Link Aadhar Card to Bank Account 2022 | Aadhar Card ko Bank khata...