New Delhi:
The government on Tuesday decided to make Aadhar card mandatory for filing income tax return and applying for a PAN card through amendments to the finance bill.
Unique Identification Authority of India (UIDAI) had earlier said that all devices that use Aadhaar authentication will have to follow its new encryption standards from June 1 onwards.
This decision is purely aimed at adding another layer of security to the hardware, especially at a time when these devices are poised to take the centre stage in biometric-based digital payments.
The finance bill also makes Aadhaar must for tax returns and PAN applications beginning July 1. Sources suggest that having an Aadhaar enrolment number while filing ITR could also be accepted.
In addition to this limit, the Income Tax Act prohibits making or accepting payment of an advance of Rs 20,000 or more in cash for purchase of immovable property. PAN is also mandatory for any purchase of above Rs 1 lakh.
