Question: Is Aadhaar Card Mandatory For Bank Account Supreme Court?

Is Aadhaar card mandatory for income tax return Supreme Court?

New Delhi: The Supreme Court has said that linkage of PAN with Aadhaar is mandatory for filing of Income Tax returns (ITR).

Thereafter, this Court has decided the matter and upheld the vires of section 139AA of the Income Tax Act..

Is KYC compulsory for bank account?

You can not open any of the accounts without the Know Your Customer Documents. In fact, it is now mandatory as per guidelines from the Securities and Exchange Board of India to comply with these KYC norms before you open a demat and trading account. Banks too will not open an account unless you have the same.

What are the documents required for bank account?

Savings Bank Account(a) Proof of identity (any of the following with authenticated photographs thereon): (i) Passport. (ii) Voter ID card. (iii) PAN Card. (iv) Govt./Defence ID card. … (b) Proof of current address (any of the following) (i) Credit Card Statement. (ii) Salary slip. (iii) Income/Wealth Tax Assessment Order. (iv) Electricity Bill.

Is linking Aadhaar with PAN card mandatory?

The government in the Union Budget 2017 had introduced a law making it mandatory for every individual having a PAN to link with their Aadhaar number. Here are different ways to link the same. The last date to link PAN with Aadhaar is March 31, 2021.

Can I file ITR without pan?

As per the announcement, indiviudals who do not have PAN will soon be able to file their income tax return (ITR) just by quoting their Aadhaar number. … As per current income tax laws, it is mandatory to quote PAN number without which ITR cannot be filed.

Is Aadhaar mandatory for bank accounts?

A five-judge constitution bench headed by Chief Justice Dipak Misra held that while Aadhaar would remain mandatory for filing of IT returns and allotment of Permanent Account Number (PAN), it would not be mandatory to link Aadhaar to bank accounts. … “It is very convenient to open a bank account using an Aadhaar card.

Is Aadhaar mandatory Supreme Court?

Agencies The Supreme Court judgment stated that linking of your PAN card and Aadhaar is mandatory. In a landmark verdict on the Aadhaar Act, the Supreme Court upheld its Constitutional validity and listed out a number of services where Aadhaar is not required.

Why Aadhar and Pan card should be linked?

Section 133 AA (2) of the Income Tax Act states that every individual having PAN as on July 2017 and eligible to obtain Aadhaar, must intimate his Aadhaar number to the tax authorities. … If you are already filing ITR (Income Tax Return), it is most likely that your Aadhaar is already linked with PAN.

Is KYC mandatory in SBI?

The SBI has asked its customers to contact their respective SBI branch with KYC documents to stop their accounts from being frozen. For the uninitiated, the Reserve Bank of India has made the KYC process mandatory for all bank customers.

How do I know if my KYC is done?

Steps to Check Your KYC Status with the PAN CardYou can check the status of your KYC with either your date of birth or PAN card.Enter your PAN card details and click on ‘submit’.If the KYC has been verified, the status will be displayed as MF-Verified by CVLMF.However, if the KYC is verified, it will show ‘Pending’.

What happens if Aadhaar is not linked to pan?

If your PAN is not linked with Aadhaar by the current deadline of March 31, 2020, then the PAN will become inoperative. An individual having an inoperative PAN will not be able to conduct financial transactions wherever quoting it is mandatory. … Using a non-operative PAN is the same as not having a PAN.

Can I open bank account without aadhar?

RBI has relaxed the KYC/AML norms, to permit resident individuals, to open and operate savings bank accounts online, without him/her having to visit the bank branch; subject to certain operational restrictions. …

What is KYC as per RBI?

Periodic Updation of KYC documents as per RBI Guidelines . According to the Reserve Bank of India’s (RBI’s) guidelines on KYC (Know Your Customer) norms, banks are required to periodically update identification data of their customers, including the customer’s photograph, proof of identity and proof of address.

Is Aadhaar mandatory for bank KYC?

IT IS NOT MANDATORY You can voluntarily provide your Aadhaar number to open a bank account. However, the bank can’t use your Aadhaar without your consent. If you permit to use your Aadhaar, banks can use it for online authentication and E-KYC.

What happens if KYC is not done?

As per RBI guidelines, wallets of non-KYC verified customers will be restricted to the following: users will not be able to add money into their Wallet unless a minimum KYC is done; users will not be able to send money to friends and family, either in wallets or in bank accounts, and users will not be eligible for any …

Is Aadhaar card required for NRI?

But in case you are an NRI (non-resident Indian) looking to link your Aadhaar card, you need not worry. As per the government criteria, NRIs do not have to link their Aadhaar for banking, mobile, PAN and other services. Aadhaar is only for residents of India. NRIs are not eligible to get Aadhaar.

Should I give my Aadhar number to anyone?

Sharing Aadhaar details in public is safe, UIDAI has said. But the same UIDAI has also said that sharing Aadhaar details is a privacy risk and should not be done. And that is adding to all the confusion that UIDAI has created. Sharing Aadhaar details in public is safe, UIDAI has said.

Is Aadhaar a proof of citizenship?

Aadhaar is the world’s largest biometric ID system. … Considered a proof of residence and not a proof of citizenship, Aadhaar does not itself grant any rights to domicile in India.