For individuals who invest in Small Savings Schemes like PPF-Sukanya Samriddhi Yojana etc, the government has altered the rules. Investors in all of these schemes are required to have a PAN and an Aadhaar number.

This information is useful to you if you also invest in the Small Savings Schemes

Public Provident Fund (PPF) Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), Mahila Samman Yojana, and Post Office with an eye toward the future of the family. For individuals who invest in these schemes, the government has altered the rules. PAN (PAN) and Aadhaar (AADHAAR) have been made mandatory for investors in all these government-run schemes.

Aadhaar Enrollment Number must be provided

These modifications would be utilized as KYC for the government’s Small Savings Plan, according to a statement from the Finance Ministry. Formerly, you could contribute to any of these savings plans without having an Aadhaar number. Before making any form of investment, investors will need to give their Aadhaar enrollment number, according to a statement made on behalf of the Finance Ministry. Additionally required for investments that exceed a certain threshold is a PAN card.

The Aadhaar number must be provided within six months.

While opening an account for a post office savings plan without an Aadhaar, you will need to provide proof of an Aadhaar enrollment slip. Moreover, the Aadhaar number must be provided within six months of the account’s opening date in order to associate the investor with their investment in the “Small Savings Plan”. Now, in order to open a Small Savings Program account, you will require the following documents:

Existing investors’ accounts will be suspended starting on October 1, 2023

if they fail to provide a PAN card and an Aadhaar card by September 30, 2023.

– Passport-size photo

– Aadhaar number or Aadhaar enrollment slip

– PAN number.

Read more: Income Tax update, Good news! no need to pay taxes this year

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