After Aadhaar- PAN linkage, government is planning to link Aadhaar to money market transactions in order to check and curb sharp practices like conversion of black money into legitimate one using stock market.
Zee Media Bureau/Smriti Srivastava
New Delhi: Aadhaar, justifying its name, is literally becoming base to your survival. Recent amendments in rules related to Aadhaar indicate that soon it will be made mandatory for even trading shares and other funds in the market. After Aadhaar- PAN linkage, government is planning to link Aadhaar to money market transactions in order to check and curb sharp practices like conversion of black money into legitimate one using stock market.
Here is the list of the actions you can’t carry out without Aadhaar:
- You will not be able to open a bank account without Aadhaar. Additionally, existing account holders need to provide Aadhaar numbers to their respective banks. It has been made mandatory for monetary transactions exceeding the amount of Rs 50,000.
- Government has made Aadhaar compulsory for filing of Income Tax Return.
- To apply for PAN, you need to have Aadhaar. Also, an existing PAN has to be linked with Aadhaar number.
- EPFO (Employees’ Provident Fund Organisation) has also made it mandatory to link Aadhaar with provident fund account.
- If you are planning to purchase a new phone, you need to provide your Aadhaar detail. An existing number should be linked with Aadhaar.
- Students, to avail the perks of central scholarships and other financial aid schemes, need to provide their Aadhaar number.
- You will not be able to get a passport without Aadhaar , since Ministry of External Affairs has listed Aadhaar card as one of the compulsory documents for application of passport.
- In order to get concessions on railway tickets, Aadhaar card is a must. This has been done to plug leakages and misuse.
- Government-funded schools will not provide mid-day meals to those students who don’t possess Aadhaar.
- To get the public distribution subsidy benefits, one needs to link Aadhaar with ration card.