Now PAN-Aadhaar is necessary for withdrawal from the bank, the government has made a big change in the rules..
Desk : If you do transactions with the bank, then this news is of your use. Actually, the rule on deposit and withdrawal of money has been implemented by the government. Under this rule, it will be mandatory for any person to show PAN card or Aadhar card while depositing or withdrawing more than 20 lakhs in banks.
A notification in this regard was issued by the government on May 10. The rules were implemented through this notification. The purpose of these rules is to keep an eye on the financial transactions of the people. Even today there are many people who do not have PAN card. The Central Board of Direct Taxes has made rules under the Income Tax (15th Amendment) Rules, 2022.
Under this rule, if any person deposits or withdraws 20 lakhs or more from banks, then in this case Aadhaar card or PAN card will have to be submitted. Experts say that the government is constantly making efforts to increase the base of its taxpayers. Therefore, the government has now made new rules to bring such people under the tax net, who do big transactions, but they do not have a PAN card. Once those doing large transactions provide their PAN, it will become much easier to track their transactions.