3.14 Crore PAN cards have been linked with Aadhaar: Ravi Shankar Prasad

Depicting a progressive approach of “Digital India” initiative, 3.14 Crore PAN cards have been linked with Aadhaar so far, tweeted Ravi Shankar Prasad, Minister of Law & Justice and Electronics and Information Technology, Government of India.

The minister tweeted it today and acknowledging the figures the official handle of Aadhaar (@UIDAI) retweeted it.

To check tax evasion through the use of multiple PAN cards, Union Finance Minister Arun Jaitley had made Aadhaar mandatory for filing income tax returns and for linking of PAN with Aadhaar.

This announcement was made through an amendment on tax proposals in the Finance Bill for 2017-18.

The Central Government has also directed for quoting of the 12-digit biometric Aadhaar a mandatory step at the time of applying for Permanent Account Number (PAN) before July 1, marking the launch of Goods and Services Tax (GST).

Furthermore, the Finance Minister has hinted that the Aadhar card may replace PAN card in the future.

“A stage may come when unique identity card (Aadhaar) may become the sole card. There are many countries where such a situation exists. There is a social security number in America and in India it (Aadhaar) could be the counterpart,” said Arun Jaitley.

3.14 Crore PAN cards have been linked with #Aadhaar. #DigitalIndia pic.twitter.com/073uq4wy0F

— Ravi Shankar Prasad (@rsprasad) July 7, 2017

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.