- The government to make Aadhaar mandatory for filing returns, PAN requests
- It is working on linking all bank accounts to Aadhaar numbers
- The move is aimed to curb the black money flow
"We have seen some examples where people own at least five PAN cards for tax fraud purposes and because of that the government has proposed to provide Aadhaar number while filing returns. And, for those who don't have it, they can always apply for it.
"Around 98 per cent of adults in the country have Aadhaar number and more than 108 crore Aadhaar cards have been issued," Mr Jaitley stated.
The finance minister also said that a stage may come in future when unique identity card (Aadhaar) will become a single card as there are many countries where such situation exits like social security number in America.
Any PAN card not linked to an Aadhaar identity will be considered invalid from July 1. PAN is essential for basic financial transactions like receiving a salary.
Meanwhile, after two-day debate, the Lok Sabha cleared the Finance Bill today along with 40 official amendments, including the cap on cash transactions from Rs 3 lakh to Rs 2 lakh from April 1.
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