Changes to regulations governing filing of income tax returns; the use of and charges associated with credit cards; and last-minute, or Tatkal, train ticket bookings; as well as making an Aadhaar card mandatory for new PAN applications, are among those that will come into effect on July 1.
These will impact individual taxpayers and customers of banks like HDFC, SBI, and ICICI.
From Tuesday the Central Board of Direct Taxes has made Aadhaar verification mandatory for PAN card applications. Existing PAN holders must link their Aadhaar numbers by December 31.
At present any valid government-issued ID, such as a driving license, and a birth certificate is enough for new PAN card applications.
Non-compliance with this rule may lead to the existing PAN being deactivate
Aadhaar verification will also be mandatory for booking Tatkal tickets.
Also, starting July 15, two-factor authentication, which will include a one-time password that will be sent to the registered mobile phone, will be required for all ticketing, online or in-person.
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