Although Aadhaar is gradually gaining more importance than PAN – a ten-digit unique alphanumeric number issued by the Income Tax Department – however, PAN is still important, especially for financial transactions. According to experts, PAN is a way for the Income Tax Department to keep tabs on your financial dealings whereas Aadhaar’s main purpose is to create a centralized database of each citizen residing in India. PAN, in fact, is a very useful tool to estimate the total tax revenue being generated in the country and to be used as an identification document is not its primary job.
Goodbyes are the hardest when they are final. It’s worse if it involves one of your parents. The heartbreak is probably lesser in intensity only to that of your surviving parent, the spouse who is left grappling with a crippling emotional void at the fag end of life. Yet, it is critical to take a financial reality check and you, as progeny, are the best suited to do it. Taking stock of the finances is an overwhelming task and it’s easy to be stumped by the maze of formalities.
The Government has made it mandatory for banks and financial institutions to check the original identification documents of individuals dealing in cash above the prescribed threshold, to weed out the use of forged or fake copies. The Department of Revenue in the Finance Ministry has issued a gazette notification making an amendment to the Prevention of Money-laundering (Maintenance of Records) Rules. The new rule now requires the reporting entity to compare “the copy of officially valid (identification) document so produced by the client with the original and recording the same on the copy”.
A few months back, Reliance Jio silently launched JioFi 3 in the Indian market just to replace its predecessor with some minor changes. We recently unboxed the device. The JioFi 3 now retails at Rs. 1,999 on official aJio website and is also available from Reliance Digital Xpress, Digital Xpress mini and other stores. Basically, this device comes handy when your family and friends want to online On-the-go and also saves your phone’s battery life.
Reliance Jio is offering up to 100 per cent cash back (10 top-up vouchers worth Rs 201 each) on JioFi device if you buy it with exchange of your old dongle. After “Dhan Dhana Dhan” offer, newcomer Reliance Jio has launched new offers to attract dongle, data card and wifi router users. The Mukesh Ambani-owned telecom venture is offering up to 100 per cent cash back (10 top-up vouchers worth Rs 201 each) on JioFi device if you buy it with exchange of your old dongle.
Bharat Sanchar Nigam Limited (BSNL) is now offering unlimited calling and data for Rs. 97 per month for users of Micromax’s 4G VoLTE enabled Bharat phone. Priced at Rs. 2,200, the Bharat 1 phone will support 3G connection as well. “I am glad that BSNL has come with two new schemes. This will not only increase BSNL subscribers but also strengthen their financial position,” Telecom Minister Manoj Sinha said while launching the service.
In a bid to expedite linking of mobile phone numbers with Aadhaar, the government on Wednesday announced three new modes to complete the process from the comfort of home. Telecom Minister Manoj Sinha said mobile numbers can be linked with Aadhaar through OTP (one time password), app or IVRS facility. This has been done to simplify the process and make it convenient for people, the minister said. While the authentication of mobile phone number with Aadhaar, a process called re-verification, by visiting stores of telecom firms will continue, the government has also ordered the companies to carry out the exercise at the doorsteps of the disabled, chronically ill and senior citizens.
India had entered into an agreement with the United States for implementation of the Foreign Accounts Tax Compliance Act (FATCA) with effect from August 31, 2015. Bank accounts that were opened between July 1, 2014 and August 31, 2015 and are not in compliance with FATCA (Foreign Account Tax Compliance Act) provisions will be blocked. The Income Tax Department had set a deadline of April 30 for FATCA compliance for these accounts.
Aadhaar number has been made mandatory for senior citizens to avail concessions in train tickets from April 1. A three-month trial run for this is going on. The Railways will soon move towards Aadhaar-based online ticketing system to prevent touts from blocking a bulk of tickets, end fraudulent bookings and curb cases of impersonation. Aadhaar number has been made mandatory for senior citizens to avail concessions in train tickets from April 1.
86 post offices have already started work so that people can apply for passports there, Shashi Tharoor said. Congress leader Shashi Tharoor, who led a 15-member delegation of the Parliamentary Standing Committee on External Affairs here, today stated that passports could be applied from post offices shortly. During their stay in the city, the parliamentary committee members visited the Amritsar Passport office, where Tharoor interacted with passport seekers besides holding discussions with the officials at the passport office.