As per report from sources it was stated that the Union government had on Friday announced that all bank accounts should be linked with Aadhaar card number by end of this year that is on 31st December 2017. It was stated that if the existing bank accounts are not linked with Aadhaar before the mentioned date, those accounts will become invalid and in-operational from 1st January 2018.
Further Narendra Modi led government had issued a notification amending the Prevention of Money Laundering Rules, 2005, to submit Aadhaar along with PAN or Form 60, if an individual or company is making a financial transaction above Rs 50,000 which is effective from June 1st.
The Revenue department of India added that small account will be
scrutinized when there is suspicion of money dealings and other high risk
scenarios. This will reduce the use of fraudulent practices in all the banks
and the order was made yesterday to the people of the country.
Yep.. You heard it Right! Modi's plans to end Income Tax? Though the Prime Minister Narendra Modi came to power with numerous promises and plans to develop the nation, most of them are still in draft stages, while one of them has always been a topic of discussion. Ever since Modi came to power, BJP cadre had insisted on abolishing the income taxes paid by workers earning monthly wages.
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