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Aadhar Archives - GoodTime Nation

GoodTime NationSeptember 26, 2017
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2min50

Mumbai: The farmers who didn’t submit the data concerning the Aadhaar card whereas making use of for the loan waiver scheme might not get the benefit of it. Based on the information of State Information and Technology Division, 56.59 lakh farmers had utilized for this scheme, out of which 2.4 lakh farmers didn’t give information of the Aadhar.

An official of the department stated that each one information was collected on September 22 after applying for the scheme, after which these figures have come up. 338 of 25,335 Mumbai’s farmers didn’t present this info.

Principal Secretariat of IT division VK Gautam stated that those that haven’t provided the data of the Aadhaar will likely be given extra time. He stated, ‘We have now obtained purposes and now they will be investigated. The applications which aren’t found to follow the parameters of the invoice will likely be left. Nonetheless, those that haven’t supplied the data of the Aadhar will likely be given extra time. Those who are waiting for Aadhaar numbers can even be seen for debt forgiveness.

However, the farmer chief is not happy with the criteria. Raghunath Dada Patil of the Farmers Group stated, “If a poor farmer doesn’t have the Aadhaar, then it isn’t his fault. The government ought to attain out to such farmers and provide them with Aadhaar cards.

Aurangabad’s farmer chief Dhananjay Patil additionally expressed concern over the inevitability of the Aadhaar. He stated, “If a farmer doesn’t have the Aadhaar then there will likely be a technical downside. That doesn’t imply that he wished to cheat the government. ‘


Rahul RathoreJune 28, 2017
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3min60

New Delhi: If you have not linked your Aadhaar numbers to the PAN card yet, get it done immediately. Because the government has made this mandatory and this rule will be implemented from July 1. The government has also issued notification for changes in the income tax rules. Now aadhaar number is mandatory to get a new PAN number from July 1.

While revising the finance bill Finance Minister Arun Jaitley had made the aadhaar compulsory for those filing income tax returns for 2017-18. Apart from this, it was also mandatory to connect the pan with the aadhaar number, which would prevent fraud through the use of many PAN cards.

The Department of Revenue has said that every person, who has been provided PAN number from July 1, 2017, will have to give the information of the Aadhaar number to the Income Tax Department under the provisions of section 139AA sub-section-2 of Income Tax.

The Revenue Department, while amending Section 114 of the IT Act, said that this rule would be implemented from 1 July 2017. According to an estimate, about 2.07 crore taxpayers have linked the basis with the PAN. A total of 111 million people has aadhaar in the country, whereas only 25 crore people have PAN cards. Recently, the provisions of the IT Act were upheld by the High Court, although it was banned until the judgment was passed by the Constitution Bench of the High Court.

Now if you do not complete the work of linking your Aadhar and pan card by July 1, your pancard can be rejected. In such a situation, you can not file your income tax return in the current financial year, as the aadhaar and PAN card has been made mandatory for filling tax returns.

Significantly, there are more than 24.37 crores pancard in the country, and the aadhaar card of more than 113 crores has been made. Of these, only 2.87 crore people submitted tax returns during 2012-13. 2.87 crore people filed a tax return in these 1.62 crore people but did not pay a single rupee tax. That’s because a large number of individuals steal taxes or avoid tax.

So, to increase the tax collection in the country, the Income Tax Department has made aadhaar linking mandatory for filing returns. After this linking, it will be easy to stop fraud.

 


GoodTime NationJune 17, 2017
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3min90

Giving the important announcement on Friday, the government said that the Aadhaar number is now mandatory for opening a bank account and for financial transactions of Rs. 50,000 or more. December 31 to all current bank account holders. All current bank account holders have been asked to deposit the Aadhaar numbers up to December 31, 2017, If not, their accounts will become invalid. According to the notification of the revenue department, all current bank account holders have been asked to deposit the Aadhaar numbers issued by the Indian Unique Identification Authority till December 31, 2017, if they do not, their accounts will not be functional.

Know the important things related to it

  • In the budget of 2017-18, the government had already made it necessary to link the Aadhar with the permanent account number (PAN) so that people could not use more than one PAN card to avoid tax.
  • In the notification issued by amending the Prevention of Money Laundering (Record Maintenance) Prevention Rules, 2005, for transactions of 50000 rupees or more by individuals, companies or partying companies, it is mandatory to submit Aadhar along with PAN number or Form No. 60.
  • While revising the rules for small accounts, the amendment states that account holders without KYC documents or deposits of up to 50000 rupees can be opened only in those branches where the core banking solutions are present. According to the new rules – such accounts can be opened in the same branch where employees can monitor them and ensure that money from such accounts is not sent from abroad. Those accounts should follow the prescribed limits of the transaction in the month and year, and the balance is not violated.
  • Such accounts would initially continue for 12 months and after that, if the account holder provides proof that he has applied for official valid verification document, then he or she can be given 12 months time.
  • “The small account will be monitored, and whenever there is a doubt of financing or funding of terrorism or any the other main risk scenario, then the claim will be identified as the official legal documents.”
  • The amendment has been made mandatory to mention the Aadhar with PAN or Form No. 60 for transactions of 50000 rupees or more, by individuals, companies or participating companies from June 1. If there is no Aadhaar number at the time of opening the account, then the applicant will have to show proof of the application made for the base and deposit the Aadhaar number within six months of opening the account.


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