The Unique Identification Authority of India (UIDAI) provides a biometric locking feature to protect your Aadhaar-linked biometric data, such as fingerprints, iris scans, and facial recognition, from unauthorised use. By enabling this lock, you ensure that your biometric information cannot be used for authentication purposes without your consent, thereby reducing the risk of identity theft … Read more
KYC fraud: In a bid to prevent Know Your Customer (KYC) data from fraud and misuse, the launch date for masking KYC identifiers in the Central KYC Records Registry (CKYCRR) has been extended to January 20, 2025. This effort, designed to enhance data security and curb potential misuse, will conceal sensitive KYC information such as Aadhaar, … Read more
PAN 2.0 card: The Centre is introducing PAN 2.0 with the aim of establishing it as a universal identifier for multiple business and tax requirements, similar to the Aadhaar card which serves as the primary proof of identity. The PAN 2.0 number will serve as a universal identifier linked to various key registrations such as PAN, … Read more
A tribal woman from Kandhamal district sits with social activists in front of the Odisha Assembly in Bhubaneswar, demanding better compensation for the family members of the three women who died in Kandhamal. | Photo Credit: The Hindu In November, three women died after consuming gruel made of mango kernel in Kandhamal district of Odisha. … Read more
The Income Tax Department on Tuesday issued a fresh notification to taxpayers to link their Permanent Account Number (PAN) with Aadhaar by May 31, which is this Friday. Posting on X (formerly Twitter), the IT department said that meeting this deadline is important in order to avoid higher tax deductions at source (TDS). The Income … Read more
The Employees’ Provident Fund Organisation (EPFO) has announced some concessions for processing physical claims of dead claimants who didn’t have their Aadhaar seeded with their accounts. The May 17 circular amended its previous order on September 9, 2020, regarding claim settlement in the absence of the Universal Account Number (UAN) in the case of an … Read more
Mutual fund KYC norms: Capital market regulator SEBI from April 1 brought in fresh regulations for KYC process for mutual fund account holders. Under the new norms, asset management companies (AMCs) will have to update KYCs of mutual fund subscribers with Aadhaar and PAN. This directive is applicable to both new and old mutual fund … Read more
Latest Income Tax department data shows that nearly half of India’s population have got Permanent Account Number (PAN). It stated that the gap between the number of male and female PAN holders still exists, but it is fast closing. As on March 31, 2024, 42.10 crore males have PAN cards vs 31.05 crore females, a … Read more
The new financial year in India has started on April 1. It is that time of the year, wherein salaried individuals will be asked about their investment plans so that employers can deduct taxes in an planner manner till next March. Investors should note that the Centre has numerous opportunities for savings and expenses through … Read more
New KYC changes effective from 1st April 2024 are critical for investors to understand to ensure their future and existing investments remain unhindered. The new rules mean that investors with verified or registered KYC status can continue transactions with existing mutual funds and brokers and face no restrictions. However, their KYC is considered incomplete until … Read more