Aadhar Card to be made mandatory for ITR and PAN Card Applications

With this, Aadhaar enrolment number while filing ITR could also be accepted. However, failing to declare Aadhaar may lead to PAN being deemed invalid.

Created On: Mar 22, 2017 16:05 IST

The Union Government on 21 March 2017 proposed to make the Aadhaar card mandatory to file Income Tax Return (ITR) and for applying Permanent Account Number (PAN) with effect from 1 July 2017.

CA eBook

With this, Aadhaar enrolment number while filing ITR could also be accepted. However, failing to declare Aadhaar may lead to PAN being deemed invalid.

PAN cards will also be linked with the 12-digit unique identification number or the Aadhar number before the 1 July 2017 deadline.

The amendment also proposes to lower the limit on cash transaction from Rs 3 lakh to Rs 2 lakh. The limit on cash transactions is in keeping with recommendations of the Special Investigation Team (SIT) on black money.

Background

The proposal was made through an amendment to the Finance Bill, 2017. The Union Government introduced as many as 40 amendments to the Finance Bill in an 'unprecedented move'.

Until now, Aadhaar was mostly used for subsidy transfers. The Union Government also claimed that the subsidy transfers linked to Aadhaar has led the exchequer to save Rs 49000 crore during the last two-and-half years.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

1 + 7 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF November 2021
    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF November 2021
    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    View all