PAN and Aadhaar cards are now interchangeable, said Finance Minister Nirmala Sitharaman on Friday.
"More than 120 crore Indians now have Aadhaar card, therefore for ease of taxpayers I propose to make PAN card and Aadhaar card interchangeable and allow those who don't have PAN to file returns by simply quoting Aadhaar number and use it wherever they require to use PAN," she said in the Lok Sabha.
The Union Minister also said that faceless and anonymous assessment system for income tax will be rolled out in phases this year.
While PAN is used to ensure that every citizen pays their taxes, an Aadhaar Card is a unique identification (UID) number issued by the government.
On Thursday, the Lok Sabha passed by voice vote the Aadhaar and Other Laws (Amendment) Bill, 2019.
The Bill seeks to amend Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016 and to further amend the Indian Telegraph Act 1885 and the Prevention of Money Laundering Act 2002.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app