Single Window For All Aadhaar Linkages May Help
Outlook Money|March 2018

Even though Aadhaar is in the eye of a storm over privacy issues, government is keen to resolve them

Single Window For All Aadhaar Linkages May Help

Aadhaar was born in 2009, when the Unique Identification Authority of India (UIDAI) was established. At that time, no one could have imagined that nearly a decade later it would become a critical document of identity in our day-to-day life.

What is Aadhaar?

Aadhaar is a 12-digit unique identity number issued to an individual based on biometric and demographic data. It is covered under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (‘The Act’).

Who is eligible?

Every resident in India is entitled to obtain an Aadhaar ID by undergoing the process of enrolment. The term ‘resident’ under the Act means an individual who has resided in India for 182 days or more during the 12 months immediately preceding the date of application for enrolment. This means even foreign nationals can obtain an Aadhaar ID once they stay in India for 182 days within a span of 12 months.

is it mandatory?

The Act merely provides as to who is entitled to obtain Aadhaar; it does not make it mandatory. However, various agencies (RBI, SEBI, tax authorities, DOT etc) have made it mandatory to quote/ link one’s Aadhaar number, which in turn makes it compulsory for the individuals to obtain it. The table (See: Show your card) shows various significant transactions where one is required to quote their Aadhaar number.

Challenges and issues

Diese Geschichte stammt aus der March 2018-Ausgabe von Outlook Money.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der March 2018-Ausgabe von Outlook Money.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS OUTLOOK MONEYAlle anzeigen
Here's How To Claim Tax Refund If You Missed The ITR Deadline
Outlook Money

Here's How To Claim Tax Refund If You Missed The ITR Deadline

The Income-tax Act, 1961, allows the refund of any excess income tax deducted on your income beyond your actual tax liability.

time-read
1 min  |
September 2024
26 Spiels You Should Not Fall For
Outlook Money

26 Spiels You Should Not Fall For

We have a list of 26 traps that you should avoid in your journey to creating wealth

time-read
10+ Minuten  |
September 2024
Unified Pension Scheme
Outlook Money

Unified Pension Scheme

The Union Cabinet approved the Unified Pension Scheme (UPS) on August 24, 2024, guaranteeing 50 per cent of the salary as assured pension for central government employees.

time-read
1 min  |
September 2024
Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide
Outlook Money

Unlocking Financial Freedom with Freedom SIP: A Beginner's Guide

Freedom SIP is the smartest way to finance your retirement because it allows you to ride the compounding rocket to build wealth, even by investing a small monthly sum.

time-read
2 Minuten  |
September 2024
Asset Allocation Strategy to Safeguard Against Market Fluctuations
Outlook Money

Asset Allocation Strategy to Safeguard Against Market Fluctuations

Invest in different asset classes, such as equities, debt, gold, etc., so that if a particular segment doesn't perform in a given situation, others will come to the rescue.

time-read
2 Minuten  |
September 2024
The Role of Asset Allocation in Investing
Outlook Money

The Role of Asset Allocation in Investing

A proper mix of asset allocation that aligns with investor's goals is key to the portfolio's long-term performance and reaching milestones.

time-read
4 Minuten  |
September 2024
Why Retirement Planning is Crucial in Life
Outlook Money

Why Retirement Planning is Crucial in Life

Retirement planning is the key if you want a financially secure life in your sunset years.

time-read
2 Minuten  |
September 2024
IS SENIOR HOUSING FOR YOU?
Outlook Money

IS SENIOR HOUSING FOR YOU?

Many seniors have taken refuge in senior living facilities in their twilight years as their children have moved abroad. While that may help them ward off boredom, they often come at a huge cost

time-read
7 Minuten  |
September 2024
WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?
Outlook Money

WITH OR WITHOUT INDEXATION: WHEN DO HOMEOWNERS PAY LESS?

Calculating taxes under both methods-considering inflation and property appreciation-can yield a more precise result

time-read
4 Minuten  |
September 2024
Flexing Its Way Across Market Cycles
Outlook Money

Flexing Its Way Across Market Cycles

Very few funds meet investors' expectations of delivering superior returns across market cycles, and HDFC Flexi Cap Fund is one of them.

time-read
1 min  |
September 2024