The proposal by Central Board of Direct Taxes (CBDT) to use Aadhar database to verify PAN card recipients will need cabinet approval as it involves multiple agencies of the central government, saidaspokesperson for the body.
“Currently it takes up to three weeks to verify the applicant.
If the Aadhaar database has all the latest details ofaperson including address, finger prints, that can be used for verification of the PAN applicant and reduce the time taken,” Meenakshi Goswami, CBDT spokesperson, said.
Goswami said the proposal has not yet been finalised.
The CBDT is working on using the extensive Aadhaar database and its eKYC norms to verify those applying for PAN cards.
The idea is that it will drastically reduce the time taken to verify fromafew weeks to fivesix days.
KYC is know your customer.
Business Standard New Delhi,16th February 2017
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