IndiaLends Advisory

By IndiaLends Advisory

Mar 06, 2018

Why Is The Government Linking Everything To Aadhaar?

Aadhaar, the 12-digit unique identification number has created a lot of news in the recent time. However, the deadlines to link Aadhaar card with a hostile number of services is nearing.  In spite of this, most people are not aware of this urgency and are just following the crowd.

So, why is the government trying to link everything to Aadhaar?

The answer is simple. The government wants to keep a track of all the transactions in a single click by just entering the Aadhaar number. Here are a few reasons why the government is urging everyone to get an Aadhaar card and link it with a bunch of services.

Why should you link Aadhaar card to your bank account?

The government is asking individuals to link Aadhaar card with your bank account to avoid fraudulent practices. By linking Aadhaar card, the government will be able to provide additional security to the bank accounts.

You must be wondering how? Linking Aadhaar card will weed out the bank accounts run by fraudsters, criminals, money launders and more. Moreover, it will keep the account more secure. For example, let’s assume you have linked your bank account to the Aadhaar number. If a fraudster tries to withdraw money, it will now be easy to locate and punish a fraudster.

The last date to link your bank account with Aadhaar is 31st March 2018.

Why should you link Aadhaar card with PAN?

PAN is required to track the source of income of an individual. And Aadhaar is being allocated to every individual as a Unique Identification number. Therefore, it helps the tax officials to assess whether the individual is paying taxes correctly or not.

However, this is not mandatory for all. A person with income less than taxable income(₹2.5 lakhs or less) does not need to link their PAN with Aadhaar card. In spite of this, it is recommended to get it done to avoid last-minute rush if the rules change in future.

The last date to link your PAN card with Aadhaar is 31st March 2018.

Why should you link Aadhaar card with your mobile numbers?

It has been found that most of the criminals and terrorists get their SIM card issued with duplicate documents. The documents contain fictitious and sometimes, real names without them having knowledge about the same.

When every mobile number is linked with Aadhaar card, then criminals using mobile phones can be easily identified. Therefore for your own security and nation’s, it is necessary to link Aadhaar card with your mobile number(s).

The last date to link your mobile numbers with Aadhaar is 31st March 2018.

Why should you link Aadhaar card with your driving license?

The government is focussing on linking Aadhaar to your driving license in order to curb the issue of fake and duplicate license. This will help the government confirm the physical identity with the help of digital technology.  Moreover, it will keep a check on the registration of stolen vehicles. The biometric details of Aadhaar will be helpful in finding identity in such practices.

The last date to link your driving license with Aadhaar is 31st March 2018.

Why should you link Aadhaar card to your Demat account?

After the Union budget of 2017-18, Securities and Exchange Board of India (SEBI) has made it compulsory to link Aadhaar to your Demat account to curb money laundering and tax evasion through trading.

The last date to link your Demat account with Aadhaar is 31st March 2018.

All the chaos of Aadhaar linking is been happening with a promise of smooth governance. Let’s hope for the same!

If you are still confused on how to go about linking everything to Aadhaar, worry no more. You can know everything about that here.

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