Aadhaar card has all of a sudden become an indispensable part of our lives. The document which helps in storing a person’s details in the government database has become an important document to have like having a PAN card. Until recently, the biometric card, which has an Unique Identification Number (UIN), was a document with no important task. However, that is not the case now, as it has become mandatory to link the UIN to even enjoy the basic necessities of life. The recent announcement from the Government of India that it is mandatory to link the Aadhaar with PAN card has made people who have to file IT returns nervous. Though the linking of the UIN has been made mandatory to cut down on tax evasion, it can be quite beneficial for individuals as well. Here, we take a look at all the benefits of 12-digit Aadhaar Card:
- Filing Income tax returns to become less stressful: With the taxing planning season fast approaching, the rush to get the Unique Identification Number (UIN) is sure to see a rise. This is because it can cut down on the stress by many folds. It needs to be mentioned that until now to file IT returns, one did not need to link Aadhaar UIN with PAN as the PAN number was enough for the individuals. However, the decision taken by the government to make it mandatory will be beneficial as well. It will cut down on the need to verify the income tax returns as well as the need for documentation. Apart from that, the entire process of filing tax returns will become easy, cost effective and efficient.
- Getting a passport is much easier: We all know how tough it can get while trying to get a passport. From getting an appointment to police verification, it is one hectic process to get our hands on the passport. However, having an Aadhaar card can bring an end to all that hard work as it enables one to apply online with the Aadhaar card, which acts both as a proof for both identity and address. As such, the entire process can be completed within a period of 10 days as compared to months.
- Empowers one to avail all government related subsidies: Having the 12-digit UIN enables one to avail the benefit of subsidy offered by the government on various products. All that one needs to do is to furnish the 12-digit number. The LPG subsidy offered by the government called PAHAL can also be availed directly in the bank account by linking the Aadhaar number with the LPG consumer number.
- Taking the bogus voter out of the picture: The bogus voter who has always played an important role in all elections in the country can be taken out of the picture with the help of Aadhaar card. This can be made possible by linking the Aadhaar number with the voter card of the individual, thereby making it impossible for fraudsters to lay claims to multiple voter IDs.
- Opening a bank account would not need multiple documents: An Aadhaar card will save an individual from having to carry multiple documents if he/she intends to open an bank account. Having an Aadhaar card is quite a huge benefit in that regard as the biometric card acts both as an identity and address proof.
- Receipt of pension and disbursing PF: Another benefit that comes with having an Aadhaar card is that pensioners can avail their monthly pension without needing to provide multiple documents. All the pensioners need to do is register the Aadhaar number with the concerned department. The card is also beneficial while looking to withdraw amount from the provident fund as it allows the funds to be transferred directly to the respective bank accounts.
- Need not submit life certificate every year: Asking a pensioner to submit a life certificate every year is quite a task, but the advent of Aadhaar card can be seen as a blessing for those who have to go through this. Having an Aadhaar card can help an individual in availing a digital life certificate, hereby saving him/her the hardship of going through some physical labour.
- Helpful in availing digital locker facility: The Government of India had recently launched a facility called DigiLocker. This enables individuals to store all their documents on the government’s server. Aadhaar number is needed to sign up for this process and once all the documents are linked with the 12-digit number, they are considered as authorized documents of the individual. Availing this facility saves an individual the trouble of needing to carry his/her original documents while applying for jobs or in educational institutions.
- Investing in stock markets and mutual funds: If a person is interested in investing in stock markets and mutual funds, having an Aadhaar card is a must following the government’s order. Hence, it is imperative for those individuals to get an Aadhaar card if they continue to avail the benefits that comes with investing in stock markets and mutual funds.
- Beneficial while doing transactions: Having an Aadhaar card can come in handy for an individual while doing transactions that are above Rs.50,000. With the government making it mandatory, one who intends to make transactions above the said amount needs to make sure that he/she has the 12-digit UIN ready to save him/her the last minute trouble while looking to transact the amount.
Apart from the above benefits, the Aadhaar card can also be helpful while getting a mobile sim card or keeping it activated, cutting down on people having multiple driving licenses, etc. The Aadhaar number also needs to be linked to existing bank accounts to make sure they remain operational. All in all, the Aadhaar card is turning out to be that one document which is needed for all purposes. So, if you are one of those who is yet to get the Aadhaar card, it is high time that you get it and start availing the benefits that comes with it.