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<keyword id="471314" type="COMPANY" weightage="20" keywordseo="National-Securities-Depository-Limited">National Securities Depository Limited</keyword> (NSDL) can be explained as a financial body set up to hold securities like bonds and shares in the form of physical or non-physical certificates. We can say they are maintained in a dematerialized format. All the securities held in NSDL are safeguarded in depository accounts in the same way funds are managed in the bank accounts. The main objective of NSDL is to It facilitate the quick and prompt transfer of securities in the same way like how ownership is transferred by making entries in physical books. All the processes happen on NSDL are carried out electronically which will eliminate the long route and lengthy time associated with the traditional practice where physical certificates need to be exchanged after completing every trade. The background of NSDL The <keyword id="6357264" type="DEFINITION" weightage="20" keywordseo="capital-market">capital market</keyword> of India is older than a century. However, it has been very active since its beginning. Some of the shortcomings associated with NSDL include delayed execution of transfers and bad delivery due to the fact that settlements were solely based on paperwork. In order to mitigate these downsides, the government passed the Depositories Act, 1996. The said act provided room for the creation of Security Depositories in India for the purpose of managing securities. Securities can be explained as financial assets that can be traded. This means that securities can both be bought and sold on the financial market. These are actually financial instruments that will include equity, fixed income instruments, common stocks, equity warrants and others. The two kinds of security documents include debts and equities. Debt instruments like bank notes, debentures and bonds are similar to money that has been borrowed and therefore have to be repaid. On the other hand, stocks and shares provide the buyers with partial ownership in a given company. About National Security Depository Limited (NSDL) NSDL is in fact the largest and the first ever depository in India that was created on November 8, 1996. The sole purpose of establishing this organization is to manage the securities held in the Indian Capital Market in a dematerialized form. On an average, NSDL opens about 3602 accounts in a day. NSDL has been promoted by the Industrial Development Bank of India (IDBI), National Stock Exchange (NSE) and Unit Trust of India (UTI). The important shareholders of the NSDL include the following entities. <ul><li><keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> Limited </li><li>Citibank </li><li><keyword id="6357341" type="COMPANY" weightage="20" keywordseo="deutsche-bank">Deutsche Bank</keyword> </li><li>HSBC </li><li>State Bank of India (SBI) </li><li>HDFC Bank </li><li><keyword id="6356454" type="COMPANY" weightage="20" keywordseo="Standard-Chartered">Standard Chartered</keyword> Bank </li><li>Dena Bank </li><li>Canara Bank </li><li>Oriental Bank of Commerce </li></ul>Benefits of NSDL NSDL was founded in order to address the issues that arise due to the physical holding of the ownership of securities and the conventional method of transferring them physically through paper work. Some of the overwhelming benefits of NSDL include mitigation of bad deliveries, ruling out of the risks connected to physical certificates, elimination of <keyword id="6391795" type="UNKNOWN" weightage="20" keywordseo="stamp-duty">stamp duty</keyword>, instant transfer and registration of securities, quick settlement and enhanced liquidity, quick disbursal of the non-cash corporate benefits, reduction of a significant amount of paperwork, elimination of brokerage, possibility to get periodical status reports, easy changing of the investor details, easy transmission and easy sale of securities held on behalf of minors.

What is NSDL service?

<keyword id="74488" type="ORGANIZATION" weightage="20" keywordseo="PAN-card">PAN card</keyword>, expanded as Permanent Account Number can be described as a nationalized identity card. PAN card is necessary to carry out any financial transaction in India. PAN number is a unique 10-digit alphanumeric and identity number allotted to the tax-paying person, company or HUF. The Indian Income Tax Department is the authority issuing the PAN card. The validity of a PAN card for individuals and enterprises is for a lifetime. Before applying for PAN card, you must ensure that you do not have a PAN card already. As per the Section 272B of the Income Tax Act 1961, possessing more than one PAN card is punishable with a penalty of Rs.10,000. If you have your PAN number but have lost the PAN card, you can apply for lost PAN card. For making any changes in the PAN card details, you need to apply for changes in PAN card. Applying for a new PAN card, making changes and applying for a lost card can all be done online. Steps to <keyword id="7497779" type="UNKNOWN" weightage="20" keywordseo="apply-for-pan-card">apply for PAN Card</keyword> <ul><li>You must first submit the PAN card application Form 49A you can find on NSDL.</li><li>The Website for this is <a href="https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html">https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html</a> </li><li>Input all the details asked in the form <a href="https://tin.tin.nsdl.com/pan/Instructions49A.html#instruct_form49A">https://tin.tin.nsdl.com/pan/Instructions49A.html#instruct_form49A</a> </li><li>Make the payment online via credit or debit card, net banking or demand draft. Successful payment will be acknowledged. You must save this acknowledgement number.</li><li>Once the online application is accepted along with the payment, you must send the supporting documents via post or courier to the NSDL. The documents asked for verification include identity proof, address proof and date of birth proof. </li><li>Once the PAN is sanctioned for you, you will receive the card in your address. </li></ul>

Steps to apply for PAN Card in India

A digital signature certificate based application will allow companies to get PAN or TAN registration within a day, said the <keyword id="65338" type="ORGANIZATION" weightage="100" keywordseo="Income-Tax-Department">Income Tax department</keyword>. The portals that will provide these services are NSDL eGov and UTIITSL. 
 
"Under the new process PAN and TAN will be allotted within one day after completion of valid on-line application," a tax department statement said. 
 
For individuals, a new PAN number can be obtained through Aadhaar-based e-signature facility, thus reducing the effective time that the procedure takes. 
 
"Introduction of Aadhaar based e-Signature through NSDL eGov in PAN application not only ensures paperless hassle free PAN application process but also seeding of Aadhaar in PAN which will curb the problem of duplicate PAN to a great extent," said the statement. 
 
<a href="http://ymbconsulting.com/wp-content/uploads/2015/02/Paperless-work-order-VisualFactory.jpg?ec5d07">Image source</a>

Thanks to paperless application, companies can now get PAN and TAN within a day

New Delhi, Dec 17 () The Securities Appellate Tribunal (SAT) on Tuesday asked Sebi to pass an order within 15 days in Karvy Broking matter on Axis Bank's plea, which said the regulator's ruling is preventing the lender from accessing securities pledged by the broking firm through another account.
 The order comes following a Sebi directive to the National Securities Depository Ltd (NSDL) in November that prevented Axis Bank from accessing the securities pledged with the lender by Karvy Stock Broking Limited (KSBL).
 The case pertains to the securities held by KSBL, which were used by the brokerage for borrowing, courtesy the power of attorneys (PoA)that they held. 
 The securities held by over 83,000 clients were given back to them after Sebi asked NSDL to do so, forcing lenders -- Bajaj Finance, ICICI Bank, HDFC Bank and IndusInd Bank -- to move SAT and secure an interim relief on further transfers. 
 However, SAT refused any immediate relief to top lenders.
 NSDL's move helped 90 per cent of KSBL's demat account holders get back their securities. 
 Sebi, through an interim order passed on November 22, barred KSBL from taking new brokerage clients and also prevented it from using PoAs given by its clients after the brokerage was found to have allegedly misused clients' securities.
 In its plea, Axis Bank, which lent Rs 81 crore to KSBL on the basis of securities pledged by the brokerage, contended that its position viz-a-viz other lenders is different as the other lenders were directly impacted by Sebi's directive that asked depositories not to allow transfer of securities from one account of Karvy.
 The bank said that the Sebi order did not contain any direction preventing Axis Bank from operating another demat account of KSBL, and NSDL has kept the said account in abeyance and the lender could not invoke the pledge when tried to do so.
 "Though, the account frozen explicitly by the WTM (whole time member) of Sebi by order dated November 22, 2019 is not the same account as that of the appellant (Axis Bank) implicitly the order has got extended to such accounts because of the sweeping nature of the WTM's directions to protect the interest of the investors," as per the order.
 Accordingly, the tribunal "directed the appellant to file an appropriate representation before Sebi. If such an application is filed, Sebi will hear the appellant and other relevant entities and pass appropriate directions within 15 days".
 It further said that "status quo shall be maintained in respect of the securities" with regard to disputed demat account.
 On Saturday, Sebi refused to provide any relief to Bajaj Finance and three other lenders -- ICICI Bank, HDFC Bank and IndusInd Bank -- in the KSBL matter regarding pledged shares. 
 On December 4, the tribunal denied any immediate relief to top lenders who had petitioned against the transfer of securities held with KSBL back to the clients.
 The tribunal had directed the four lenders to approach Sebi by December 6 and that Sebi pass an order. SP 
RVK

Karvy case: SAT asks Sebi to hear Axis Bank's plea, pass order within 15 days

New Delhi, Dec 20 () The Securities Appellate Tribunal on Friday asked Sebi to pass an order by January 15 next year in Karvy Broking matter on Axis Bank's plea that the regulator's ruling is preventing it from accessing securities pledged by the broking firm through another account.
The tribunal modified its earlier directive passed on December 17, wherein it had asked the markets watchdog to pass an order within 15 days in the case.
Axis Bank had moved to the SAT seeking the shares pledged by Karvy Stock Broking Limited (KSBL) to the lender be unfrozen, so that it can invoke the pledges.
The move came following a Sebi directive to the National Securities Depository Ltd (NSDL) in November that prevented Axis Bank from accessing the securities pledged with the lender by KSBL.
KSBL owed Rs 81 crore to the bank which was given in the form of overdraft against shares.
"We modify our order dated December 17, 2019 to the extent that Sebi will pass appropriate orders on the representation of the appellant on or before January 15, 2020," the tribunal said in an order passed on Friday.
Sebi, through an interim order passed on November 22, barred KSBL from taking new brokerage clients and also prevented it from using the power of attorneys (PoA) given by its clients after the brokerage was found to have allegedly misused clients' securities to the tune of over Rs 2,000 crore.
Securities held by KSBL were used by the brokerage for borrowing from the lenders courtesy the PoA.
The securities held by over 83,000 clients were given back to them after Sebi asked NSDL to do so, forcing lenders -- Bajaj Finance, ICICI Bank, HDFC Bank and IndusInd Bank -- to move SAT and secure an interim relief on further transfers. However, SAT on December 4 had refused any immediate relief to top lenders and had directed the four lenders to approach Sebi by December 6 and that Sebi pass an order.
NSDL's move helped 90 per cent of KSBL's demat account holders get back their securities.
Last Friday, Sebi had refused to provide any relief to the four lenders. SP
BAL

Karvy case: SAT asks Sebi to pass order by Jan 15 on Axis Bank's plea

PAN - expanded as <keyword id="134255" type="COMPANY" weightage="20" keywordseo="permanent-account-number">Permanent Account Number</keyword> is a code consisting of alphabets and numerals. In total there are 10 characters in a <keyword id="437599" type="PERSON" weightage="20" keywordseo="PAN-number">PAN number</keyword>. PAN is the identification that the <keyword id="65338" type="ORGANIZATION" weightage="20" keywordseo="Income-Tax-Department">Income Tax Department</keyword> provides the taxpayers. The objective of the PAN number is to systematize and monitor the monetary transactions in a way curbing the tax evasion. <keyword id="7998729" type="UNKNOWN" weightage="20" keywordseo="PAN-jurisdiction">PAN Jurisdiction</keyword> Every PAN number in linked to an AO code with 10 digits found in the PAN database. This can be understood as a unique code that contains information including the jurisdiction of the PAN holder, the commissioner’s charge, the region of the chief commissioner, the range of the joint commissioner, the designation and region of the Assessing Officer (AO). Every PAN holder will belong to a particular range based on their geographical location and income source. In every region, there will be multiple units and these units will be called as wards or circles. The ward of a PAN holder depends on the income declared by the candidate. Different income limits go under different sub-jurisdictions. The income up to a particular limit is automatically included in a particular circle. When you change the area of your residence, the AO code can also change. When you want to modify your AO code, you will have to apply for a new AO. Steps to know your PAN jurisdiction <ul><li>Knowing your PAN jurisdiction is a very simple and easy process. You can do this without even logging on to the Income tax website. Follow these steps to know your jurisdiction.</li><li>Visit the official Income Tax Department website. Click on the link ‘Know Your Jurisdiction’.</li><li>Input your PAN and mobile number and click on ‘submit’. </li><li>You will receive a ‘One Time Password’ on your registered mobile number. Input this OTP on the webpage. Remember that you will have to enter the right OTP and you will not be given more than 3 attempts to do this. </li><li>You will now come to the jurisdiction details for your PAN number. The list of details you will get include area code, AO type, AO number, jurisdiction, name of the income tax ward office, range code, email id of the income tax award office and the status of your PAN card. </li></ul>Changing your PAN jurisdiction It is necessary to change your PAN jurisdiction if you have to change your residential address. It is also possible to change your jurisdiction if you are not happy with the way your Assessing Officer functions. Steps to change your Assessing Office <ul><li>Visit the NSDL site and go to the page <a href="https://tin.tin.nsdl.com/pan2/servlet/NewPanCorrectDSC">https://tin.tin.nsdl.com/pan2/servlet/NewPanCorrectDSC</a>.</li><li>Input all the details asked for without any mistakes. Upload your photograph and the supporting documents asked.</li><li>Submit the form and make the payment asked.</li><li>Print the acknowledgement you will get after you have successfully submitted your PAN correction application.</li><li>Put your signature in the acknowledgment, affix your photographs, and sign on one of the photographs. </li><li>Send this acknowledgment attaching all the supporting documents by post to NSDL to reach them within 15 days of applying for the change.</li></ul>

How do you know your PAN jurisdiction?

The I-T department has developed a mobile app for paying taxes and tracking refunds and is considering issuing PANs on real time basis using Aadhaar biometric. 
 "Income Tax department is considering issuing of Permanent Account Number (PAN) on a real time basis using Aadhaar's e-KYC facility. The proposal is at an initial stage of consideration," Minister of State for <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> <keyword id="258592" type="PERSON" weightage="20" keywordseo="Santosh-Kumar-Gangwar">Santosh Kumar Gangwar</keyword> said in a written reply to the <keyword id="6355187" type="ORGANIZATION" weightage="20" keywordseo="Lok-Sabha">Lok Sabha</keyword> today. 
 
Besides, he said a mobile app "for paying taxes online has been developed. The mobile application has the functionality to pay taxes and track refunds". 
 
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 He said the PAN allotment system of the I-T department is integrated with the <keyword id="6376435" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-corporate-affairs">Ministry of Corporate Affairs</keyword>' portal for allotment at the time of incorporation of a company. 
 "A turn-around-time of 4 hours is prescribed for allotment of PAN after receipt of PAN application from <keyword id="6355225" type="COMPANY" weightage="20" keywordseo="MCA">MCA</keyword> portal to PAN service provider <keyword id="77072" type="ORGANIZATION" weightage="20" keywordseo="NSDL">NSDL</keyword> eGov portal," he said. 
 
<a href="http://www.businessinsider.in/heres-a-first-of-its-kind-startup-auctioning-a-weekend-yoga-retreat-with-shilpa-shetty/articleshow/57578049.cms">ALSO READ: Here's a first-of-its-kind startup auctioning 'A Weekend Yoga Retreat with Shilpa Shetty'</a> 
 Besides, the tax department has started online PAN application facility using digital signature certification or Aadhaar based e-signature. "Also, online paperless PAN application facility using Aadhaar based e-KYC and e-signature is available through the websites of PAN services providers NSDL eGov and UTIITSL. In this facility, Aadhaar data is used for allotment of PAN and there is no need to upload scanned copies of any document," <keyword id="388942" type="PERSON" weightage="20" keywordseo="gangwar">Gangwar</keyword> said. 
 
The aadhaar-based e-KYC facility would allow individuals or entities wanting to apply for PAN to verify details such as date of birth or address by way of biometric identification using thumb impressions. 
 
<a href="http://www.businessinsider.in/hyperloop-one-asks-indians-to-identify-the-first-busy-route-where-it-can-bring-ultra-fast-transportation-system/articleshow/57551789.cms">ALSO READ: Hyperloop One asks Indians to identify the first busy route where it can bring ultra-fast transportation system</a> 
 
So far, more than 111 crore Aadhar numbers have been issued. The unique identification number is being used for getting a new SIM card, for opening bank accounts, transfer of subsidies and also for biometric-based digital payments under Aadhaar Enabled Payment System. 
 
As per the government estimate, every year 2.5 crore people across the country apply for PAN cards. 
 
There are more than 25 crore PAN card holders in the country.

You Searched For "NSDL" and got 7 results

What is NSDL service?

BI India Bureau

Steps to apply for PAN Card in India

BI India Bureau

Thanks to paperless application, companies can now get PAN and TAN within a day

BI India Bureau

Karvy case: SAT asks Sebi to hear Axis Bank's plea, pass order within 15 days

PTI

Karvy case: SAT asks Sebi to pass order by Jan 15 on Axis Bank's plea

PTI

How do you know your PAN jurisdiction?

BI India Bureau

Tax dept app to track refunds; plans issuing PAN in real time

PTI

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