Aadhar, PAN data to be merged

April 30, 2012
Adhar

New Delhi, April 30: In order to weed out the problem of fake PAN cards and to ensure an accurate biometric data, the government has initiated a mammoth project to bring together both the Aadhar and the PAN databases.

The Nandan Nilekani-led Unique Identification Authority of India (UIDAI) issues the Aadhar number which is now being synchronised with the Permanent Account Number database maintained by the I-T Department.

The Finance Ministry, which had first mooted the proposal of generating and issuing biometric PAN in 2006, had kept the decision pending for sometime as it was felt that both the agencies (UIDAI and I-T) would be "duplicating the effort" to reach a common goal -- biometrics-based identity.

"It has been decided to integrate both the Aadhar and the PAN database which will help the agencies to maintain a correct database for ensuring two things.

"While the Aadhar will ensure effective disbursal of government schemes to citizens, the biometric PAN card database will help stop the forgery of PAN cards which begets economic crimes," a senior Finance Ministry official said.

The Finance Ministry, under the then Finance Minister P Chidambaram in 2006, had proposed that the biometric PAN cards would have the I-T assesses' fingerprints (two from each hand) and the face.

This will now be achieved by collating the Aadhar database with that of the PAN.

The entire effort to have a biometric PAN card was to avoid duplication and stop fraudulent practices by tax evaders and anti-nationals and now with the delivery of the UID number it has achieved the same purpose, the official added.

The I-T department, in a number of cases, has uncovered several individuals possessing multiple PAN cards or forging the details to evade taxes and create 'benami' properties.

According to a latest data of the I-T department (till November, 2011), a total of 13,74,03,213 PANs are valid at present.

The PAN card-Aadhar card, according to the official, is being developed as a "national identifier" document by the government.

It is being integrated with other official databases for ensuring implementation of schemes and creating an effective enforcement tool against financial offences like tax evasion and money laundering.

While PAN is a 10-digit alphanumeric number allotted by the I-T department to taxpayers, biometrics is a biological method to identify physical features of an individual.

A 2010-11 CAG report on direct taxes had earlier revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but I-T returns filed in the corresponding period were only 340.9 lakh (34.09 million).

"The CAG had said that the gap between PAN holders and the number of returns filed was 617.1 lakh (61.7 million) but once the biometrics is available we will be able to weed out possibly all such fake PANs," the official said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 21,2024

adani.jpg

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
November 11,2024

birensingh.jpg

The Manipur Kuki MLAs have released a statement calling out Solicitor General Tushar Mehta's 'lies' in the Supreme Court. In a joint statement, the MLAs, including those from the Bharatiya Janata Party, said they had not had any meeting with the Chief Minister since May 3, 2023, nor did they intend to meet him in the future as “he was the mastermind behind the violence”.

As per the MLAs, the SG lied about state CM N Biren Singh speaking to Kuki MLAs to control the situation there, in order to halt a Supreme Court probe into the leaked tapes which allege that Singh has been complicit in the violence that broke out between Kukis and Meitis there.

"We...clarify that we have never had any meeting with Chief Minister, Shri N. Biren Singh since May 3, 2023, nor have any intention to meet him in future as he is the mastermind behind the violence and ethnic cleansing of our people from the Imphal valley, which is continuing till today, the latest being the brutal killing and burning of Mrs Zosangkim Hmar on November 7, 2024," the letter read, while condemning the recent 'barbaric' killing of the woman there, and noting the SG's assertion is 'tantamount' to misleading the top court.

“We, the undersigned ten MLAs, have come to know that during the Supreme Court hearing held on November 8, 2024, the Solicitor General of India submitted that ‘CM is meeting all Kuki MLAs and trying to bring the situation down to get peace’. In this connection, we hereby categorically state that this submission is a blatant lie and tantamount to misleading the Hon’ble Supreme Court of India,” the statement said.

The Supreme Court, while hearing a petition by a Kuki organisation, asked that it submit audio tapes to substantiate its claim that the Chief Minister was instrumental in inciting and organising violence in the northeastern State.

Solicitor-General Tushar Mehta orally informed the court that the Chief Minister was meeting all the Kuki-Zo MLAs and that peace in the State had come at a huge cost.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.