Infocomm Infocomm
24th NBFC100 TECH SUMMIT AWARDS 24th NBFC100 TECH SUMMIT AWARDS
BFSI AI SUMMIT BFSI AI SUMMIT
Home Regulators RBI SEBI TechINFRA Security Data Centre Cloud Services Government Reforms DBT Aadhaar GST Payments Payment Gateways ATM Point of Sale Payment Wallets Fintech Apps Banks Public Sector Private Sector Cooperative NBFCs Year Ender Magazine Magazine Subscription Articles Interviews Webinars Webinar Videos Video Series — Innovation Talk Upcoming Initiatives BFSI Events About Us Contact Us

Aadhaar-PAN syncing mandatory from July 1: Centre

The Central Government has directed for quoting of the 12-digit biometric Aadhaar a mandatory step at the time of applying for Permanent Account Number (PAN).

Advertisementgreylabs

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.

Advertisement24th Elets NBFC100 Tech Summit & Awards, Mumbai

“Every person who has been allotted PAN as on July 1, 2017, and who in accordance with the provisions of sub-section (2) of section 139AA is required to intimate his Aadhaar number, shall intimate his Aadhaar number to the principal director general of income tax (systems) or DGIT (systems),” said the revenue department.

AdvertisementInfoComm India 2026

“The rules will come into effect from July 1, 2017,” said the revenue department, while amending Rule 114 of the I-T Act, that deals with the application for allotment of PAN.

AdvertisementElets BFSI AI Summit & Awards, Mumbai

Nearly  2.07 crore taxpayers have already linked their Aadhaar with PAN.

Finance Minister has also 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.
The government has also notified that any PAN card that is not linked with Aadhaar as mandated by section 139AA will be invalid.

To link your PAN with Aadhaar, go to income tax department’s e-filing portal at https://incometaxindiaefiling.gov.in/ and enter your user id and password to access your profile.

News users can register on the portal by entering basic registration details such as PAN card, name and date of birth.

After logging into the portal update Aadhaar by clicking the “Profile Settings” tab.  Click on “Link Aadhaar” on the drop down menu that will appear. A new form will be displayed.

Enter your details such as name, date of birth and gender as per PAN records. Post this, enter your Aadhaar number and name. After you submit the Aadhaar details, a success message will be displayed confirming the linking of Aadhaar with PAN. A confirmation email will be sent to the registered email id as well.

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.

Our Coverage of Aadhaar

How Aadhaar is Revolutionizing Digital Identity and Financial Services in India

In a digital-first era, India has managed to build one of the most robust digital identity frameworks in… Read more →

PAN or Aadhaar Now Mandatory for Cash Deposits or Withdrawals Above Rs 20 Lakh

Now furnishing the Permanent Account Number (PAN) or biometric Aadhaar is mandatory for cash deposits or withdrawals above… Read more →

Cashfree Payments launches Aadhaar verification, automates customer KYC for businesses

Payments and API banking solutions company, Cashfree Payments today announced that it has launched Aadhaar Verification as a part of… Read more →

NBFCs can now apply for Aadhaar-e-KYC licence: RBI

In its efforts to promote digital usage across financial institutions, the Reserve Bank of India (RBI) has given… Read more →

Cabinet gives nod to Aadhaar and Other Laws (Amendment) Bill 2019

In a bid to make Aadhaar more user-friendly, the Union Cabinet today approved the Aadhaar and Other Laws… Read more →

Banks can use Aadhaar number for KYC: RBI

The Reserve Bank of India (RBI) has announced that banks can now use the Aadhaar number as part of a… Read more →