While taking a big decision, the Modi government has made the Aadhar necessary for opening a bank account and for transactions of more than 50,000. All current bank account holders have been asked to deposit the Aadhaar numbers till December 31, 2017, if they do not, their accounts will become invalid.Earlier on the basis of which the Supreme Court had said that the Aadhaar card cannot be compulsory for income tax return till the final decision of the Constitutional bench. The court had also said that those who do not have the Aadhaar card, the government can not insist on linking them with the PAN card. But those who have the Aadhaar card, they have to link it to the PAN card.‘Court had reserved the decision’
In fact, the Supreme Court gave a mechanism on the petitions challenging the constitutional validity of the provisions of the Income Tax Act, which has made the mandatory for filing income tax return and allotment of PAN. On this issue, Justice AK Sikri and a bench of Justice Ashok Bhushan reserved its judgment on the petition on May 4.
For more news updates Follow and Like us on Facebook