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Now, Aadhaar made mandatory for post office savings too

Now, Aadhaar made mandatory for post office savings too

Taking the Aadhaar compliance ahead, the Finance Ministry has now made Aadhaar mandatory for even small saving schemes.

People eager to save through post office deposits and Public Provident Fund too will need to get their accounts linked with Aadhaar. Kisan Vikas Patra and National Savings Certificate too would require Aadhaar or Aadhaar enrollment number.

What about non-Aadhaar savers?

Where Aadhaar number has not been assigned, the depositor shall submit proof of application of enrolment for Aadhaar.

All depositors have been given time till December 31, 2017 to provide the 12-digit unique identification number and link it with their accounts.

Why Aadhaar?

The Aadhaar-linking move by the government is to crack down on tax evaders and black money hoarders.

Earlier, the Finance Ministry made it mandatory to link Aadhaar with Permanent Account Number and other bank accounts. Aadhaar number was also required when filing income tax returns. The deadline for linking PAN and bank accounts with Aadhaar is been set asDecember 31.

READ  No Deadline to Link Aadhaar Cards with Ration Cards says Collector

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