Small Saving Scheme: A notification was issued by the Finance Ministry on 31 March 2023, in which it was said that if you have opened an account under Small Saving Schemes or have invested If you have done so, then it will be mandatory for you to provide PAN and Aadhar card under KYC documents.
According to the notification, those who have not submitted Aadhaar and PAN while opening the account, it is mandatory for them to do this by 30 September 2023. However, if documents are given then they will not have to be submitted.
Who is required to submit PAN and Aadhaar
According to the new notification, if the depositor of Small Saving Schemes has opened an account and has not submitted Aadhaar, PAN documents, then it will be mandatory for him to submit these documents by 30th September.
< h3 style="text-align: justify;">Who is not required to give Aadhaar PAN
According to the website of Canara Bank, PAN has been made mandatory for new users investing in Small Savings Scheme from April 1. This means that if you have opened an account after April 1, 2023, then it is not mandatory for you to submit Aadhaar and PAN by September 30.
What will happen if not linked?
If Aadhaar and PAN are not linked to the account, the account may be suspended till 30 September 2023 until PAN and Aadhaar are submitted to the branch. Account being suspended means you will not be able to transact money.
It is noteworthy that the post office schemes include FD, RD, Post Office Monthly Income Scheme, Sukanya Samriddhi Yojana, TD, Mahila Samman Savings Certificate, PPF, Senior Citizen Savings Scheme and Kisan Vikas Patra (KVP).
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