CDSC Struggles With PAN Verification for Capital Gain Tax

CDS and Clearing Limited has issued a notice about the problem faced by its CNS System in PAN verification.

The CNS System uses the PAN provided by investors to authenticate the capital gains tax. However, the system has been struggling with inconsistent and inauthentic PAN provided by investors. As such, CDSC has stated that the broker companies themselves are responsible for such errors, and should ensure the authenticity of PAN updated by investors.

CDSC has also requested investors to update the correct PAN details on their accounts.