Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
RSS

News

Last date to link Aadhaar with bank accounts is now March 31

Author: IANS/Thursday, December 14, 2017/Categories: Government

Last date to link Aadhaar with bank accounts is now March 31

New Delhi - The deadline to link the Aadhaar number with bank accounts has been extended by three months till March 31, the government has announced, as the Supreme Court is set to commence hearing from Thursday on its mandatory linking to various schemes.

The deadline was earlier December 31 for linking the 12-digit unique identification number with both Permanent Account Number (PAN) and bank accounts. However, the government extended the deadline last week for linking it with PAN till March 31.

A notification to link it with bank accounts was later issued on Tuesday by the Department of Revenue under the Finance Ministry. The notification, however, did not mention the new deadline, leaving it open-ended.

The government later issued a press release which contained the deadline of March 31.

According to the December 12 notification, the words "submit the Aadhaar number and PAN by December 31, 2017" have been substituted by "submit the Aadhaar number, PAN or Form No 60 by such date as may be notified by the Central government".

The release said under the provisions of Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017, it was provided that if a client already having a bank account or any other account-based relationship with reporting entities prior to date of this notification fails to submit the Aadhaar number and PAN by December 31, "the said account shall cease to be operational till the time the Aadhaar number and PAN is submitted by the client". 

In case of a person opening a new account, the deadline for submitting Aadhaar number and PAN was "six months from the date of the commencement of the account based relationship".

"After considering various representations received in this regard and inputs received from banks, it has been decided to notify March 31, 2018 or six months from the date of commencement of account based relationship by the client, whichever is later, as the date of submission of the Aadhaar number, and Permanent Account Number or Form 60 by the clients to the reporting entity," the statement said.

Print Rate this article:
No rating

Number of views (156)/Comments (0)

rajyashree guha

IANS

Other posts by IANS
Contact author

Leave a comment

Name:
Email:
Comment:
Add comment

Name:
Email:
Subject:
Message:
x

Videos

Ask the Finapolis.

I'm not a robot
 
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
 
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest
 
 

Categories

Disclaimer

The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free