Everyone is talking about Aadhar, your taxman, your CA, your sim provider, and practically every billboard around you. Here are all the reasons why you need it:
What is Aadhar?
Aadhaar is a 12-digit unique identification number issued by the Indian government to every individual resident of India.
Who can apply and how to apply?
A resident Indian can apply for the Aadhaar number and card by submitting her existing identity proof (passport, PAN card, driving license, etc.), address proof (phone/ power bill, bank statements, etc.) and by undergoing biometric profiling (fingerprints and iris scan) at any Aadhaar center.
Why to apply for Aadhar?
1. To ease income tax processes: Aadhaar Card lets you verify your filed returns online without the need of many documents. It is cost-effective and efficient. To avail this you need to link Aadhar to PAN (must be familiar with this by now!)
2. To avoid the chaos at the passport office: With Aadhar you don’t have to worry about the hassle of getting an appointment at the passport office, applying for the passport and waiting for months for it to actually come. Instead all this can happen in 10 days. You can simply go online to apply for your passport by attaching a copy of your Aadhaar Card. This will serve as both an identity as well as address proof. Three days later, you will get an appointment at the Passport Office and then they will process and dispatch your passport within a week.
3. Open bank accounts in a flash: Using your Aadhar card you can also open a bank account because it serves all purposes of KYC, identification and verification. There is no need to collect multiple identity proofs or run around for documentation, one Aadhar card is enough proof.
4. LPG and other subsidies: Another feature that increases the importance of Aadhaar card is it can direct LPG subsidy to your bank account. All you need to do is furnish your Aadhaar Unique Identification Number (UIN). Infact, all government-related subsidies will reach you directly thanks to your Aadhaar Card. No need to register separately for every government benefit.
5. Digital life certificate: Pensioners can use Aadhaar Card registration number online to get a digital life certificate. This can help get their pension without the hassle of physically going to the bank and submitting the life certificate.
6. Digital locker: Government of India has launched digital locker (DigiLocker) system for everyone for storing all personal document on the government’s server. And to sign-up process for DigiLocker person needs to link her 12 digit Aadhaar card number.
7. Voter card linking: Starting 9th March 2015, Aadhaar card UIDAI number would be linked to the voter ID’s. This action is taken to eliminate fraudulent voters and double voting because Aadhar card proof is required at the time of voting.
8. For Investments: To invest in the Stock Market and mutual funds the Aadhar card is made mandatory to prevent usage of black money for investment purposes. Moreover the procedure also becomes smoother.
Aadhar card is increasingly becoming important and mandatory for all purposes. The latest one being: Linking Aadhar with your sim card. Failing to do so will deactivate your sim card. Although Aadhar will make life simpler, it has certain drawbacks: Invasion of Privacy being the biggest one. We will address this in our next article. Stay tuned to read more on Aadhar.