Amritha
May 27, 2018, 11:16 pm IST
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Aadhaar made compulsory

Aadhaar made compulsory

 Jun 16, 2017

The union government has made Aadhaar compulsory for opening new bank accounts.  All bank accounts will have to be linked with Aadhaar by December 31, 2017 failing which they will be declared  invalid. The government order also make compulsory Aadhaar number for transactions worth Rs 50000 or more, similar to how PAN number was required earlier.  However it is ambiguous when Aadhaar for transactions become mandatory.

Within days of the Supreme Court striking down government direction to make Aadhaar mandatory for filing tax returns comes this move of the government to link all bank accounts with Aadhaar.  In case a tax payer does not have an Aadhaar number he will not be able to avail banking services after December 31,2017.

It may be noted that few weeks ago the government has already directed all telecom operators to reverify all phone numbers with Aadhaar. Any phone number not linked to Aadhaar by February 2018 will be deactivated.

From now onwards school, colleges, insurance firms and almost every government agency will seek an Aadhaar number.  Some hospitals ask for Aadhaar number from patients. In some places even filing FIR require an Aadhaar number.

Budget 2017 has already mandated seeding of Aadhaar number with PAN to avoid individuals using multiple PANs to evade tax.



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