Search
Now Payments Above ₹50,000 Can be Carried With Aadhaar Instead of PAN
July 09, 2019
Revenue Secretary Ajay Bhushan Pandey said that cash transactions above ₹50,000 for which quoting PAN is a must can also be completed by quoting Aadhaar instead. He said back-end changes will be introduced by banks and other financial institutions so that they can accept Aadhaar at all the places where PAN quotation is mandatory.
Pandey said that there are 22 crores people who have PAN and 120 crore people who have Aadhaar. He said that for someone to use PAN, they have to first use Aadhaar. However, now they can just use Aadhaar without generating PAN which is quite convenient.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
Important Links:
- MBA from UK University: https://ask.careers/courses/mba-from-uk-university/
- Professional Diploma in Banking and Financial Services: https://ask.careers/courses/professional-diploma-in-banking-management/
- MBA for Executives: https://ask.careers/courses/mba-for-executives/
- Mumbai: https://ask.careers/cities/mumbai/
- TSCFM: https://ask.careers/institutes/tscfm/
