What are the reasons behind the deactivation of 11.5 crore PAN cards in India
Around 11.5 crore PAN cards have been deactivated after missing the deadline for linking them with Aadhaar. This action was taken to ensure better compliance with the Aadhaar system and prevent any misuse or duplication of PAN cards.
- The deactivation of 11.5 crore PAN cards in India was primarily done to ensure better compliance with the Aadhaar system.
- One of the main reasons behind this action was to prevent any misuse or duplication of PAN cards.
- Linking PAN cards with Aadhaar is a way to establish the identity of individuals and reduce the chances of fraudulent activities.
- Deactivating the PAN cards of individuals who failed to link them with Aadhaar helps in eliminating duplicate or fake PAN cards from the system.
- It also allows the government to efficiently track and manage financial transactions, reducing the potential for tax evasion and money laundering.
- By enforcing the linkage between PAN and Aadhaar, the government aims to ensure a more robust and transparent financial system.
- Furthermore, it helps in streamlining various government welfare schemes and subsidies by eliminating duplicate beneficiaries from the system.
- Overall, the deactivation of PAN cards aims to establish a more efficient and accountable system that reduces the risk of fraudulent activities and promotes better compliance.
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a year ago