February 03, 2024
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Important update on PAN-Aadhaar Seeding for NRI Clients!

This is with reference to NSE Circular NSE/ISC/48165 dated 03-May-21 and BSE Circular 20210503-41 circular dated 01-May-21 on Aadhaar Seeding with PAN and the subsequent email communication received from NSE and BSE dated 01-Feb-24. 

The Income Tax Department, in a tweet on 18-Jul-23, clarified that individuals who haven't updated their NRI Status with the IT department should submit relevant documents to their respective ‘Jurisdictional Assessing Officer’ (JRO) for updating their residential status. For further details, please refer to the tweet at the link: https://twitter.com/incomeTaxindia/status/1681251168276860928.

Additionally, PANs registered under the NRI Category at the Exchange must be updated as ‘Seeded' or 'Not Applicable’. In the absence of this tagging, the NRI Clients will not be permitted to trade or square off their position w.e.f. 09-Feb-24. 

With reference to the aforementioned email receipt, you are requested to note that from Monday, 05-Feb-24, onwards, no fresh positions will be allowed in your account till 09-Feb-24. Post 09-Feb-24, your account will be frozen for trading till the relevant NRI Status is updated at the exchange. So, 

  • If you are an NRI, please immediately update the status with the Regulator/Income Tax Department. If you have already done that, please share the relevant documents as soon as possible.
  • If you are not an NRI, please update your status to Resident, and as per regulations, you need to close your NRI Account with immediate effect and open a resident account to continue trading.

    • Contact your AP or mail us at support@angelbroking.com for any further assistance.

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