CA Niral Gangar
The government of India is increasingly relying on Aadhar for all its schemes, documentation and filing of tax returns. I am sure that the day is not far when the government will have full records of one’s spending, travel, investments including LIC, bank transactions, cash transactions
, etc. through Aadhar linking.
Slowly through Aadhar government will display the transactions undertaken by you which you need to show in your tax returns just like the AIR report which was started a few years earlier. I further believe PAN card, Election card, etc. could be slowly phased out.
Aadhar has been recently made mandatory or will be shortly made mandatory for
2. Mutual fund Investments – already CKYC started
3. Opening bank accounts
4. Purchase of luxury items
5. Mobile connection – mandatory from Feb 2018
I am sure the above list will keep on growing. I have seen a similar card in the Middle East.
In case one does not have Aadhar card then he/she needs to apply for the same at the earliest
If one already has Aadhar card then kindly verify the following details on the same as mismatch is leading to hardship to the concerned people
1. Name is exactly as you want it to be and matches with your other documents including middle name. Even slight spelling error is creating an issue.
2. Date of birth is full date of birth as originally it mentioned only year
3. Gender is correct
4. Mobile no. is correctly mentioned
5. Email id is correctly mentioned
6. Address is perfect
In case of mismatch in above information one can get the same updated at the nearest centre. Alternatively, all the above information can be updated online at the below-mentioned link if the mobile no. is already updated in Aadhar. The process is extremely simple for online updation.
(Discliamer : before taking any action on the basis of above information, one is advised to take proper legal opinion from a learned tax practitioner. The author is not laible for any action done on the basis of above information / opinion)
(Author can be reached at Mob:- +91-9833256150 or on email firstname.lastname@example.org)