News That Matters

Tag: Aadhaar

CDSL gets UIDAI nod for e-KYC Aadhaar authentication

CDSL gets UIDAI nod for e-KYC Aadhaar authentication

Finance
NEW DELHI: Leading depository CDSL on Friday said it has received clearance from UIDAI to carry out e-KYC authentication using Aadhaar. The clearance has been obtained to act as a local Authentication User Agency (AUA) or e-KYC User Agency (KUA), CDSL said in a statement. Once market intermediaries register as KUA, they can open accounts using Aadhaar-based e-KYC (electronic Know Your Customer). CDSL said it will facilitate intermediaries to offer seamless online account opening using Aadhaar-based e-KYC. The depository maintains and services over 2.4 crore demat accounts of investors spread across the country. In July, CDSL Ventures, a wholly-owned subsidiary of Central Depository Services (India) Limited, had obtained UIDAI approval to carry out e-KYC authentication using Aadhaar. In Ma...
Nirmala Sitharaman launches facility for instant, free PAN using Aadhaar

Nirmala Sitharaman launches facility for instant, free PAN using Aadhaar

Finance
Finance Minister Nirmala Sitharaman today officially launched the instant Permanent Account Number (PAN) facility which uses Aadhaar number based e-KYC. The beta facility was earlier launched in February 2020 on the income tax department's e-filing website. The is a paperless, real-time basis facility. As per the income tax department, the turnaround time of allotting the PAN through this facility is 10 minutes. Only those applicants who have a valid Aadhaar number and have a mobile number registered with Aadhaar can use this facility. This electronic PAN (e-PAN) will be issued to applicants free-of-cost, the department said on its Twitter handle. Hon’ble FM Smt @nsitharaman formally launched the facility for instant allotment of PAN through Aadhaar based e-KYC… https://t.co/pDHW2D5vzu&am
Aadhaar optional, not mandatory for property registration under law, AAP government tells High Court

Aadhaar optional, not mandatory for property registration under law, AAP government tells High Court

Finance
New Delhi: Aadhaar is accepted as proof of identity for property registration and land mutation, but it is only an optional requirement and there is no provision in the law making it mandatory, the AAP government told the Delhi High Court Wednesday. The submission by the Delhi government was made in an affidavit filed before a bench of Chief Justice D N Patel and Justice C Hari Shankar in response to notice issued to it on a PIL by BJP leader Ashwini Kumar Upadhyay seeking linking of immovable and movable property documents of citizens with their Aadhaar number to curb corruption, black money generation and 'benami' transactions. "Aadhaar is one of the documents which executants of conveyance deeds are required to submit as proof of identity for registration of properties, however, the sa...
How to apply for Aadhaar card

How to apply for Aadhaar card

Finance
If you are someone who still does not have an Aadhaar card, follow these steps to know how you can apply for the unique 12-digit biometric ID. 1. Collect required documents To apply for Aadhaar card, you should first collect the required documents. These include proof of identity, address proof and date of birth proof. Proof of identity includes documents such as PAN card, passport, Voter ID card, and driving license. You can submit either one of these as proof. For address proof, you can submit passport, bank statement/passbook, or voter ID. As date of birth proof you can submit any of these documents: PAN card, mark-sheet issued by government board or university. Read on to know list of documents that you can submit to apply for Aadhaar card. Remember, a single document such as passpor...
How to check if PAN is linked with Aadhaar

How to check if PAN is linked with Aadhaar

Finance
With the Supreme Court upholding the government requirement that PAN must be mandatorily linked with Aadhaar, Section 139AA of the Income Tax Act comes into play. As per this section, if your PAN is not linked with Aadhaar by a date to be specified by the government then it would be deemed to become invalid. Currently, the deadline for this has not been set by the government although those who have filed ITR for FY16-17 without linking PAN with Aadhaar are required to do the same by March 31, 2019. Shalini Jain, Tax Partner, People Advisory Services, EY India says, "The deadline of March 31, 2019 to link PAN with Aadhaar is relevant for those taxpayers who have filed their income tax return (ITR) for FY2016-17 (AY2017-18). Without linking the same - their returns will not be processed unl...