Saturday, September 16, 2017

Four Aadhaar linking deadlines you should not miss

There are certain deadlines that you need to meet related to your Aadhaar in order to avoid pain in the coming year, 2018. 


Here's the list of various deadlines set by the government regarding Aadhaar. 

1. Aadhaar and PAN linking deadline is now December 31, 2017 

The government had earlier notified that income tax returns (ITR) filed after July 1, 2017 would be accepted only after a tax assessee linked his/her PAN with Aadhaar. However, many people faced difficulty in doing so even by the extended deadline for filing returns of Aug 5, 2017. 


One of the often cited reasons for inability to link was mismatch of PAN and Aadhaar details due to spelling and other errors. Therefore, the government has given a relaxation to individuals who have filed their ITRs on or before August 5, 2017 but have not linked their PAN with Aadhaar. The new deadline set by the government is now December 31, 2017. Individuals must link their PAN with Aadhaar by this date in order for their returns to be processed. 

Government has made it mandatory to link Aadhaar and PAN for every PAN holder (except certain categories exempted via notification dated May 11, 2017) by amending the income tax laws in the last Union budget. 

However, the above deadline is only for those filing income tax returns this year. If you are not required to file your ITR as per tax laws, i.e., your gross total income in a financial year is less than the exemption limit of Rs 2.5 lakh (for the FY 2017-18), then the last date to link your PAN with your Aadhaar is yet to be notified by the government. 

2. Deadline for providing Aadhaar to financial institutions is December 31, 2017 

Government has asked banks, financial institutions, and intermediaries to ensure that all their customers are know-your-customer (KYC) compliant which, as per new rules, requires verification of their Aadhaar. An amendment has been made in the Prevention of Money Laundering Rules (Maintenance and Records), 2005 to this effect. 

As per the new rules, one has to mandatorily submit his/her Aadhaar and PAN details to be KYC-compliant. If this is not done before December 31, 2017, his/her account will become inoperable till the time the required details are submitted. 

This means that you are required to submit your Aadhaar and PAN details to financial institutions such as banks or where you have made investments like mutual funds, stocks, National Pension System (NPS) etc. You will also need to submit these details if you have taken a loan from any bank, housing finance company or non-banking finance company. 

While submitting these details, you are also required to undergo an authentication process to verify that the Aadhaar submitted by you is actually yours, as per the notified rules. 

3. Aadhaar based e-KYC verification for all mobile phone subscribers must be done by February 6, 2018 

The department of telecommunications (DoT), after the Supreme Court judgment on February 6, 2017, has asked telecom operators to re-verify all the existing mobile subscribers (pre-paid and post-paid) via Aadhaar-based e-KYC. It has also become mandatory to provide Aadhaar details while buying new mobile SIM connections. 

As per the Supreme Court order, the process of re-verification of all existing mobile subscribers must be completed by February 6, 2018. 

However, as per the directive issued by DoT in its circular dated March 23, 2017, it is not clear what will happen if Aadhaar details are not linked to a customer's mobile number by February 6, 2018. At the same time, the telecom companies, on their websites, are cautioning users that their mobile connection services might get restricted or their numbers might become inactive in case Aadhaar-based compliance is not done. There have been news reports that all unlinked mobile numbers will be deactivated after the deadline. 

4. Aadhaar details must be submitted by December 31, 2017 to enjoy benefits of social security schemes 

Recently, government in the Supreme Court said that it has extended the deadline for mandatorily providing Aadhaar details in order to avail benefits of social schemes. The new extended deadline is now December 31, 2017. Earlier deadline for the same was September 30, 2017. 

Aadhaar details are required for various benefits such as availing subsidy on LPG cylinders, the Human Resource Development ministry's scholarship schemes, availing pensions and subsided ration under Public Distribution System scheme. 

Source:-The Economic Times

Revision of commission payable to SAS agents on Kisan Vikas Patra (KVP) : Department of Economic Affairs

REVISION OF PENSION OF PRE-2016 PENSIONERS/FAMILY PENSIONERS IN IMPLEMENTATION OF GOVERNMENT DECISION ON THE RECOMMENDATIONS OF THE 7TH CENTRAL PAY COMMISSION-CONCORDANCE TABLES- REGARDING

To view Directorate Memo No. 38/37/2016-P&PW(A) dated 13.9.2017, please CLICK HERE.

Central govt employees not to get arrears on revised minimum pay

While the central government employees are hoping to get hike in minimum pay under 7th Pay Commission soon, the government has now decided that the employees will not get arrears on revised minimum pay, a media report said. 
Earlier this month, there were several media reports which stated that the Ministry of Finance is planning to raise the minimum pay hike from Rs 18,000 to Rs 21,000 under 7th Pay Commission. 

In June, the Ministry had fixed minimum pay at Rs 18,000 considering the fitment formula at 2.57. Now, the government may agree to raise fitment factor to 3 times.

However, according to a report by The Sen Times, which quoted a government officials saying, "Finance Minister is very pleased to hike the minimum pay Rs 21,000 with raising fitment factor 3.00 times from 2.57 times, will be paid from January next year. It’s an important payment for the financial impact to central government employees but no arrears on higher minimum pay will be given to employees and the Finance Minister Arun Jaitley will place it before the Cabinet in the month of January next year."

Proposed RRs of AO/AAO of IP&TAFS Group 'B'

All 1.55 lakh post offices to offer payments bank service

"We will have post bank footprint in every district by March 2018, and before the end of the calendar year, all 1.55 lakh post offices and every postman and grameen dak sevak, which is another 3 lakh, will be equipped with a device which will provide full range of payment solutions that we will be hosting," India Post Payments Bank (IPPB) Chief Executive Officer A P Singh said at an event organised by United Nations on Financial Inclusion. 

In the private space, AirtelBSE -0.70 % Payments Bank, launched in January this year, started operations with a network of 2.5 lakh merchants. 

Payments banks can accept deposits of up to Rs 1 lakh per account from individuals and small businesses. 

The new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and other specified services. 

IPPB offers an interest rate of 4.5 per cent on deposits up to Rs 25,000, 5 per cent on Rs 25,000-50,000 and 5.5 per cent on Rs 50,000-1,00,000.

"While our private sector counterparts will, I take it very positively, skim the market from the top, you need someone who works bottoms up. That is our choice," Singh said. 

He said that similar to State Bank of IndiaBSE 0.20 % that was created to take banking to people, IPPB is going to take digital payments to masses. 

At the event, Telecom Regulatory Authority of India Chairman R S Sharma said transaction cost on digital payment should be very minimal and it should be made affordable. 

IPPB, according to Singh, will use Aadhaar as payment address of an individual, indicating that the postal bank may bring the transaction charge close to 1 paisa. 

"We will convert it (Aadhaar) into payment address. We will get this activated by offering a host of payment services," Singh said. 

"We have taken up the challenge on ourselves as to how we make a Rs 10 transaction viable. Aadhaar authentication cost less than 1 paisa. There is no reason why a payment transaction should be transacting anything more," Singh said. 

At present, private players and even public banks charge transaction fee even on digital payments, depending on the nature of the transaction. 

Source :  http://economictimes.indiatimes.com/

m-Aadhar – Proof of Identity for Rail Travel

Press Information Bureau
Government of India
Ministry of Railways
13-September-2017 16:34 IST
Ministry of Railways permits m-Aadhar as one of the prescribed proofs of Identity for Rail Travel Purpose.

Ministry of Railways has decided to permit m- Aadhar (Aadhar card on mobile app namely m- Aadhar launched by UIDAI) as one of the prescribed proofs of Identity for Rail Travel purpose in any reserved class.

m-Aadhar is a mobile app launched by UIDAI on which a person can download his/her Aadhar Card. It can be done only on the mobile number to which Aadhar has been linked. For showing Aadhar, the person has to open the app and enter his/ her password to show the Aadhar Card.

m-Aadhar when shown by the passenger on his/her mobile after entering the password should be accepted as proof of identity for undertaking journey in any reserved class over Indian Railways. It is effective from 8th September 2017.