Your Bank account will be closed by Government by 31st December, 2017 – Making Aadhar Mandatory

Introduction

The Narendra Modi government is giving blow after blow to the people of India. Not much time has lapsed from the horror of demonetization, up with another blow which will make all your transactions open to the government to check.

The government of India has made mandatory to link up the bank account with the Aadhar card otherwise your bank account shall cease to be operational from 31st December 2017.

Further, though common man may not be much impacted by this decision, the black money holders or the one who use different bank accounts to route funds shall be under scanner.

Aadhar Card mandatory for New Bank Account?

From 1st June 2017, getting Aadhar card is mandatory to open a bank account in India. Further, if you don’t have the bank account then you can still open the bank account by giving the Aadhar enrollment number.

Why government is making Aadhar Card mandatory

Earlier, not so long ago, the government has already made the Aadhar card mandatory for the filing of Income tax return and slowly and steadily government is linking every aspect of finance with Aadhar card.

Aadhar card integration enables the government to consolidate all financial data of a person with a single unique number and it will enable the government to put check at each point to make sure that government gets their due taxes and no black money is generated or circulated.

Conclusion

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Related Links:

• GST Registration
• GST Return Filings
• GST Software