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Adhaar will help to stop tax evasion: Arun Jaitley

Adhaar will help to stop tax evasion: Arun Jaitley

India Blooms News Service | | 22 Mar 2017, 07:00 pm
New Delhi, Mar 22 (IBNS): Union Finance Minister Arun Jaitley said that the new law of making Adhaar card mandatory for filing income tax returns will help to stop tax evasion, in Lok Sabha on Wednesday.

The amendments were brought to the financial bill by the government on Tuesday which made it mandatory to have Adhaar card for IT filing and also to apply for PAN card from July onward.

However, FM said that Adhaar enrollment number can be quoted for IT filings.

The opposition parties deferred from the government's new rules raising questions on its security.

CPI(M) MP Mohd. Salim questioning the security of Adhaar card, asked FM why the government is not making a unique ID card.

Claiming that Adhaar card to be secure, Jaitley said: "It is secure and chances of frauds will be less because of thumb impression and retina verification."

"Adhaar card will stop frauds as one person has multiple PAN cards," he added.

Jaitley also announced that there would be no tax on farm income.

The Finance Ministry also reduced the cap of cash transaction to two lakhs from ealier three, which was proposed in Union Budget.

The Lok Sabha has passed the Finance Bill.

Image: Official Twitter handle of Arun Jaitley