Get PAN card: Made mandatory for share trading
By Natraj Muthukrishnan on 9 January, 2010, 10:29 am
Those doing business of shares transfer must have PAN now. PAN(Permanent Account Number) number has been made mandatory in transposition of shares where there is a change in the order of names in which physical shares are held jointly by two or more shareholders. This was announced by the Securities and Exchange Board of India (Sebi) on Thursday.
The market regulator also made furnishing of PAN details mandatory in cases of deletion of name of the deceased shareholder, where the shares are held by two or more shareholders.
PAN details will also be required in transmission of shares to the legal heir, where deceased shareholder was the sole holder of shares.
In April 2007, Sebi had made PAN mandatory for all securities market transactions. Last year, the regulator clarified that for security market transactions and off-market and private transactions – involving transfer of shares in physical form of listed companies – it would be mandatory for the transferee to furnish copy of PAN card to the company, registrar and transfer agents (RTAs) for registration of such transfers.
In case of mismatch in PAN card details, or difference in maiden name and current name of the investors (in case of married women), the RTAs can collect the PAN card.
So, hurry up and get your PAN card.
can any one give me the link for pan can form download
PAN card is necessary for opening any demat account as well and to convert physical shares one must have a demat account.Online share market is getting quite simple for those who know computer well but tough for those who are computer illiterate.
how can I get PAN card?