sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 Filed Your Income Tax Return (ITR)? 11 Days Left To Avoid Penalty Charges
 Big benefit likely soon for taxpayers Income tax returns (ITR) filing
 What if you make an error in your tax return?
 16 LPA-Opening Urgent Opening with BIG 4 Client for Statutory Audit
  When and how to revise tax returns
 How and why to check income tax return (ITR) status
 10 things you need to know about filing your Income Tax Returns
 Here’s what you should know Are you liable to pay advance tax?
 How new property tax law will affect you
 Zero income tax for women
 What to do if you missed income tax return deadline

SEBI extends PAN deadline till December 31
June, 27th 2007
Asks for proof of filing application

The Securities and Exchange Board of India (SEBI) has extended the deadline for investors in mutual funds who do not hold PAN cards up till December 31, this year.

However, the regulator said investors will have to apply for a PAN card and submit proof of the application while filling in the investment form for mutual funds from July 2 onwards.

SEBI has informed this in a letter to The Association of Mutual Funds in India (AMFI).

Earlier, AMFI had asked SEBI to re consider the decision of having a PAN card compulsorily for investments in mutual funds as it would take away a large number of investors from mutual funds.

"From July 2, the investor has to either submit a PAN card number or a proof of application for a PAN card, failing which, he will be unable to invest in mutual funds. SEBI has intimated the same to AMFI," said Mr A.P. Kurian, Chairman, AMFI.

The underlying idea is to make all investors in securities market to get a PAN card.

However, Mr Kurian raised concerns that the same procedure was not uniform across all avenues of investments such as post office deposits, national savings certificates, premia in insurance, among others where only the investor above Rs 50,000 has to get a PAN card.

Mr Kurian said it would take time to educate investors in mutual funds who are now present in small towns also.

"Facilities will also have to be provided in these places to provide a PAN card," he added.

"The momentum of investment may be affected which is a concern," said Mr Kurian.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions