Use Aadhaar Or Pan Card For Tax Filing (Aadhaar Ok To Use For Opening New Bank Account) Getting New SIM Card


There has been major announcements and addition in the first budget session held under the Modi government’s second tenure. Huge expectations pondered over the new finance minister Nirmala Sitharaman and many eagerly waited for her verdict on this session’s budget.

We bring to you news on these grounds. Sitharaman, on July 5 announced in her Budget speech that the Aadhaar card could be used interchangeably with the PAN to file income tax returns (ITA). Also, the Lok Sabha on July 4 passed the Aadhaar & Other Laws (Amendment) Bill, 2019 that proposes to allow voluntary use of Aadhaar for opening bank accounts and procuring mobile phone connections, along with other details.

Aadhar can Now Be Interchanged with PAN Card for ITA Filing

In her Budget speech on July 5, the new finance minister Sitharaman announced that Aadhar card could soon be used in place of Pan card for filing income tax returns. Currently under the Income Tax Act, one must submit their Aadhaar number while applying for a PAN card and for submitting their income tax returns. This means that they need to have both of them to file an ITR.

Doing so, making Aadhar and PAN interchangeable will  allow those who do not have PAN to file Income Tax returns by simply quoting their Aadhaar number and also use it wherever they are required to quote PAN. The finance ministry has also taken a step to track high-value transactions by making it mandatory to provide the quoting and authentication of PAN/Aadhaar for certain prescribed transactions.

Sitharaman also said that Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days, which comes as a great news for the NRIs.

Aadhar can Now be Used for Opening Bank Accounts

The Lok Sabha on Thursday passed the Aadhaar & Other Laws (Amendment) Bill, 2019. This Bill introduce by the Union Minister of Electronics and Information Technology, Ravi Shankar Prasad seeks to amend Aadhaar Act 2016 with the Indian Telegraph Act 1885 and the Prevention of Money Laundering Act 2002.

According to this bill, Aadhar can be used for opening bank accounts and procuring mobile phone connections voluntary. It also proposes to give children an option to cancel their Aadhaar number after they turn 18, as this amendment addresses privacy and security concerns.

The Bill also provides for a Rs 1-crore penalty and a jail term for private entities for storing Aadhaar data. There are currently 123 crore people using Aadhar and their biometrics are saved in a secured manner in the Indian machinery.

Aadhar is getting appreciation globally and many countries are showing interest to follow the India’s digital identification scheme.  Mr. Prasad said, the low cost technologies can advance the country and Aadhaar is one such technology developed by our scientists and IT professional.

 

6131_5

Category Tag

Latest Updates

Made in India GPS (NavIC Will Now Power Every Smartphone In India) Thanks To ISRO
Register and Watch Chandrayaan 2 Launch Live At ISRO Space Theme Park In Sriharikota
Top 10 Smartphones Of 2019 Which Forced Us To Take Notice (H1 - 2019)
Aadhaar-PAN Name Mismatch - This Is How You Can Match Your Names In Both Aadhaar and PAN Card
Which DTH Operator is the Better Option for Consumers Right Now
OPPO K3 With Snapdragon 710 SoC and 16MP Dual Rear Cameras Launched in India
Oppo K3 First Impressions - Beautiful no-notch design pop-up camera and more
New leaked photos show Google Pixel 4 and Pixel 4 XL from every angle
Xiaomi Redmi K20 Pro vs OnePlus 7 Which is better sub-Rs 35000 flagship smartphone
AI-enabled electric Revolt bike to launch on August 7
Netflix to launch cheaper mobile-only plan in India
Govt. Blames TikTok For Anti-National Activities TikTok Can Be Banned In India Again
Oppo A9 With MediaTek Helio P70 - 128GB Storage Launched in India for Rs 15490
Samsung Galaxy A80 With 48MP Rotating Camera and Snapdragon 730 Launched in India for Rs 47990
Vodafone Emerges as Fastest 4G Network in Delhi-NCR as Verified by Ookla
Tata Sky Offering Four Set-Top Box Choices to New Subscribers Which One is Worth the Buck
Five Best Reliance Jio Apps That You Must Try
Realme X vs Redmi K20 Which one should you buy
7 best YouTube Channels to follow for GATE preparation
Xiaomi Redmi K20 Pro vs Vivo V15 Pro vs OnePlus 7 Price in India and features compared
[More Updates...]
 

Related Files

4641_3
How To Fix Google Play Services Has Stopped Error - 6 Ways
Android Apps, Google, Information, Tips
Have you ever got “Unfortunately, Google Play services has stopped” error while operating your Android phone? If your answer is yes, then you might hav
4590_3
MediaTek wants to make 5G modems for iPhones push Intel out
5G, Information, iPhone, Mobile, Phone
MediaTek is close to securing a deal to supply Wi-Fi chips to Apple for HomePod devices, but the chip maker has loftier goals in mind – to deliver the modems
1940_3
Tips and tricks for your iOS device
Tips
It's the height of the holiday season, which means there’s a decent chance that you have found yourself the owner of a new Apple gadget over the past mon
4950_3
Mahindra launches globally engineered Marazzo priced Rs 9.9 lakh onwards
Auto, Auto Insurance, Business, Buy, Car, Information, Wallpapers
Home-grown auto major MahindraNSE -1.41 % & Mahindra (M&M) today launched its new utility passenger vehicle Marazzo at a starting price of Rs 9.99 lakh, wh
4348_3
Reliance Jio Becomes The Third-Largest Telecom Operator In India
Internet, Jio, Mobile, Network
The newest incumbent on the block, Reliance Jio has steadily climbed up the ladder within a very short period of fewer than eighteen months. Be it free unlimited c
2421_3
Hum To Chale Pardes
Actress, Bollywood, Celebrities, Hollywood
Ganga Tere Desh Mein Vijay Reddi Raj Babbar, Dharmendra, Dimple Kapadia, Jayapradha Gangaa Jamunaa Saraswathi Manmohan Desai Amitabh Bachchan, Mithun Chakraborty,
3763_3
How to use WhatsApp in your local language
Social, Tips, WhatsApp
In the last few years, WhatsApp has become one of the most important tool of communication. With 200 million-plus active users, India is the biggest market for Fac
1236_3
Suresh Raina
Cricket, Suresh Raina
Suresh Kumar Raina born 27 November 1986) is an Indian professional cricketer. An aggressive left-handed middle-order batsman and an occasional off-spin bowler, he
1909_3
Tiger Zinda Hai box office collection
Actors, Actress, Bollywood, Katrina Kaif, Movie, Salman Khan, Tiger Zinda Hai
Tiger Zinda Hai box office collection day 4: Its earnings, reported by Taran Adarsh are as follows: Friday – Rs 34.10 crore, Saturday – Rs 35.30 crore,
3937_3
Behold - The Galaxy S10 of your dreams
Mobile, Samsung
It’s far too soon to call Samsung’s new Galaxy S9 a flop. After all, the S9 and S9+ were released just over one month ago, and there’s no telling
3437_3
Samsung Galaxy S9 Galaxy S9 Plus to launch in India on March 6 Specifications price and availability
Mobile, Samsung
[35.69 kb]
The two most-awaited Android smartphones of 2018 were unveiled by South Korean tech giant Samsung ahead of Mobile World Congress in Barcelona, Spain. The Galaxy S9
5238_3
Indian Railway Expands Women Quota In AC Trains Will Use Solar Energy To Save Money
Indian Railways, Information, News, Railways
Railways have always been Indians’ preferred mode of transport and the credit goes to Indian Railways. Indian Railways has always strived to deliver the best
Home » Updates » Daily Update
 
MobAsk.com