Just what the doc ordered: Aadhaar for trading will end multiple PAN menace

Under new rules, all trading account holders to submit their Aadhaar number by December 31, 2017

For years, the government has grappled with the menace of multiple PAN numbers, which fraudsters have been using to fragment and conceal their real income. By linking the Aadhaar card with the PAN card, the government, in one swift move, has made multiple PAN cards redundant.

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The Prevention of Money Laundering (Maintenance of Records) Rules, 2005, has been amended according to a Gazette notification dated June 1, 2017, and it now makes it mandatory for trading account holders to submit their Aadhaar number by December 31, 2017. 

In case of a failure to submit the documents within the aforesaid