More time to link accounts to Aadhaar

More time to link accounts to Aadhaar

Context

The government on Wednesday extended the December 31 deadline for linking bank accounts to Aadhaar numbers by three months to March 31, 2018.

Deadline extended from Dec. 31 to March 31, 2018

The deadline for linking insurance policies and mutual fund holdings to Aadhaar would also be extended to March 31 next year, from the present December 31 deadline.

PMLA rules amended

The revenue department in the Ministry amended the relevant rules pertaining to maintenance of records by financial entities under the Prevention of Money Laundering Act of 2002, to drop the December 31 deadline specified for bank account holders to link Aadhaar and PAN (permanent account number).

The notification

• Acount holders will need to submit the Aadhaar number, and Permanent Account Number or Form No. 60, by such date as may be notified by the Central Government.
• The notification also stated that if Aadhaar was not linked to bank accounts as per the date notified by the government, the account would be blocked till the submission of Aadhaar and PAN numbers.

Last week, the government submitted before the Supreme Court that it intended to issue a notification, extending the deadline for mandatory linking of Aadhaar with services from December 31 to March 31, 2018.

For Linking Mobile Numbers there is no extension

The deadline for linking Aadhaar to mobile numbers, however, remains February 6, 2018.