Get ready to link your insurance policy with Aadhaar. In a new development, Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory to link existing policies and new policies with Aadhaar. The latter is must for both life and general insurance policies like travel, home, heath and motor. While making the announcement, the regulator referred to Central government's gazette notification dated Ist June, 2017, wherein it notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 and made Aadhaar and PAN/Form 60 mandatory for availing financial services including insurance and also for linking the existing policies with the same.
It further said, "The Authority clarifies that, linkage of Aadhaar number to Insurance Policies is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017."
Lately, Aadhaar has been made necessary for a host of financial services like PPF, NSC, KVP apart from bank accounts, mobile numbers and to avail numerous social security schemes like pension, scholarship and LPG connection. However, before you begin linking your Aadhaar, check the deadlines for various services.
PPF, NSC, KVP
Deadline: Dec 31, 2017If you have been banking on your post office deposits like PPF, make sure you link your 12-digit Aadhaar with it soon. Even other investments like NSC and KVP require Aadhaar verification. "Existing depositors who have not provided Aadhaar number at the time of application for such deposit "shall submit his Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31, 2017," said government notification. In case Aadhaar is not generated, one need to provide the proof of application for enrolment into Aadhaar.
Deadline: Dec 31, 2017If you have been banking on your post office deposits like PPF, make sure you link your 12-digit Aadhaar with it soon. Even other investments like NSC and KVP require Aadhaar verification. "Existing depositors who have not provided Aadhaar number at the time of application for such deposit "shall submit his Aadhaar number to the post office savings bank or deposit office concerned, on or before December 31, 2017," said government notification. In case Aadhaar is not generated, one need to provide the proof of application for enrolment into Aadhaar.
PAN
Deadline: Dec 31, 2017Linking Aadhaar-PAN is mandatory for processing of income tax returns (ITRs) for assessment year 2017-18. While earlier the deadline was August 31, the Central Board of Direct Taxes (CBDT) extended the last date to December 31, 2017 for easy compliance by taxpayers. You can link the PAN to Aadhaar by login to the income tax filing website by entering PAN (User ID), password and your date of birth. Now click on 'Profile Settings' tab and select the last option 'Link Aadhaar'. You are required to enter details like name, date of birth and gender as per PAN records and also your Aadhaar number. Enter the captcha code and submit.
Deadline: Dec 31, 2017Linking Aadhaar-PAN is mandatory for processing of income tax returns (ITRs) for assessment year 2017-18. While earlier the deadline was August 31, the Central Board of Direct Taxes (CBDT) extended the last date to December 31, 2017 for easy compliance by taxpayers. You can link the PAN to Aadhaar by login to the income tax filing website by entering PAN (User ID), password and your date of birth. Now click on 'Profile Settings' tab and select the last option 'Link Aadhaar'. You are required to enter details like name, date of birth and gender as per PAN records and also your Aadhaar number. Enter the captcha code and submit.
Mobile SIM
Deadline: February 2018If you have obtained your phone SIM card a year or a two back, it is unlikely to have been Aadhaar-verified. You can link your Aadhaar with your SIM card by walking into the retail outlet of your telecom operator along with Aadhaar document and link the two by February next year. Failure to do so may see your SIM card getting deactivated by the operator. Here's how you can link it.
Deadline: February 2018If you have obtained your phone SIM card a year or a two back, it is unlikely to have been Aadhaar-verified. You can link your Aadhaar with your SIM card by walking into the retail outlet of your telecom operator along with Aadhaar document and link the two by February next year. Failure to do so may see your SIM card getting deactivated by the operator. Here's how you can link it.
Go to your telecom operator shop with Aadhaar Card
Ask them to link Aadhaar number with mobile number by filling up a re-verification form.The operator will send a verification code on the number which you're going to verify.Provide the verification code to the operatorAlso, give your bio-metric expressionsYou'll receive a confirmation message, simply type Y and send it to themIn next 24 hours the verification process will be completed
Ask them to link Aadhaar number with mobile number by filling up a re-verification form.The operator will send a verification code on the number which you're going to verify.Provide the verification code to the operatorAlso, give your bio-metric expressionsYou'll receive a confirmation message, simply type Y and send it to themIn next 24 hours the verification process will be completed
Bank account/Mutual Funds
Deadline: Dec 31, 2017After Dec 31, 2017, your bank account will cease to be operational if it's not linked with Aadhaar. Also the government won't open any account which doesn't fulfill Aadhaar-based Know Your Customer(KYC) process. The same is needed for investing in a mutual fund. With an Aadhaar-based KYC, you don't need to provide your Id , Address proof and relieves you of in-person verification too. This too needs to be linked till the end of this year. If your bank account is not linked with Aadhaar, you can link Aadhaar with your bank account in various ways.To link it through net banking, you have to follow the following process;Click on the link that says "Aadhaar Seeding Option"Enter your Adhaar number. You will get a screen with a transaction number and the number of days required to complete it. When it is done, you get an alert from your bank saying it is complete.You can also link Aadhaar throug SMS by sending UID (Space) Aadhaar number (Space) to the bank via SMS. When it gets linked, you will get an SMS alert about it.Another way is to visit branch. Give a photocopy of your Aadhaar card to the bank representative. After necessary verification, the account will be linked and customer would be informed via SMS.
Social security Schemes
Deadline: Dec 31, 2017In order to correctly identify various beneficiaries of its social security schemes, government moved ahead with making Aadhaar declaration mandatory for welfare schemes like pension, scholarships etc. Lately, the government extended the September 30 deadline by three months.
Deadline: Dec 31, 2017After Dec 31, 2017, your bank account will cease to be operational if it's not linked with Aadhaar. Also the government won't open any account which doesn't fulfill Aadhaar-based Know Your Customer(KYC) process. The same is needed for investing in a mutual fund. With an Aadhaar-based KYC, you don't need to provide your Id , Address proof and relieves you of in-person verification too. This too needs to be linked till the end of this year. If your bank account is not linked with Aadhaar, you can link Aadhaar with your bank account in various ways.To link it through net banking, you have to follow the following process;Click on the link that says "Aadhaar Seeding Option"Enter your Adhaar number. You will get a screen with a transaction number and the number of days required to complete it. When it is done, you get an alert from your bank saying it is complete.You can also link Aadhaar throug SMS by sending UID (Space) Aadhaar number (Space) to the bank via SMS. When it gets linked, you will get an SMS alert about it.Another way is to visit branch. Give a photocopy of your Aadhaar card to the bank representative. After necessary verification, the account will be linked and customer would be informed via SMS.
Social security Schemes
Deadline: Dec 31, 2017In order to correctly identify various beneficiaries of its social security schemes, government moved ahead with making Aadhaar declaration mandatory for welfare schemes like pension, scholarships etc. Lately, the government extended the September 30 deadline by three months.
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