Think Before Linking PAN with Aadhaar

The government has issued instructions to resident and non-resident Indians to link their PAN Cards with Aadhaar and those who do not link their PAN Cards with Aadhaar will not be able to file or e-file their IT Returns for the AY 2017-18 and onwards. Keeping in view the general difficulties being faced by the public the government, in consultation with webmasters of UIDAI and Income Tax E-filing websites, has simplified the procedures to Link the Pan Card with Aadhar.

Which ID Proof is Most Reliable in India

No doubt it is just a less than one minute job and anybody holding valid PAN Card and Aadhaar Card can do it within a fraction of a minute. But, beware - you should not use the above Link provided by the IncomeTax E-filing website in haste lest you may land yourself into trouble. However, if you are already e-filing your IT Return and there are no issues with 26AS or IT Returns filed by you so far then you can use the above link fearlessly. But the individuals, who have never filed their IT Returns in the past must do the following tests:

• Register on the e-filing website of Income Tax
• If registration process says that "This PAN is already registered. If you have not registered, please contact 180042500025 (Not Working) as I tried it.
• Your Problems starts here.
• Now you have no alternative but to use the forgot password facility and generate the OTP through your new email ID and Mobile Number.
• After the generation and filling of OTP through email and mobile - the system will ask you to verify your TDS details through TAN details of deductor. If there is no Tax Deduction in your case, I fear you may not be able to take control of IT Profile associated with your PAN Number which might be being used by some other namesake as that of yours.
• In case you are able to reset the password - there is every possibility that the other person, who is using your PAN Number - wrongly allotted to two different individuals, may cancel the password reset request as the Income Tax website sends emails to both the email IDs - that is email ID of person already using the PAN Card profile and fresh email ID provided by you.
• In one such case, one of my friends submitted the password reset which is activated by Income Tax website after 12 hours and the email goes to the previous email ID using the profile and the fresh email ID, who wants to take control of the profile.
• It is just like two twins with same DOB and same names fighting for one wife. Only the parents of the wife can tell who is the original husband of their daughter. Here the parents are NSDL, UTIISL and the Income Tax People - who will decide as to whom the PAN Card belongs.
• In the above case of my friend, the other twin cancelled the password reset request 5 times and my friend was deprived of his right to view his 26AS and enjoy filing my IT Return.
• Then my friend played a trick. He sent the Password Reset Request at about 11 PM on the night when the other twin might be sleeping. My friend woke up early in the morning to catch hold of his legitimate wife that is same PAN Number allotted to two different persons. Lo, the parents allowed the wife (PAN Number being used by Other Twin) to go with my friend and now he had full access to the IT Profile.
• Immediately without checking any other details - the friend linked the PAN with his Aadhaar which got completed successfully. Now legally speaking my friend became the true husband of the wife (PAN Card Associated Profile) who was living with his twin for the last more than 10 years and his twin was left helpless.
• But during the last 10 years, the twin of the friend had e-filed so many IT Returns which could be seen in the profile along with Income Tax Notices. Now it was my friend's turn to face the problem to bear the burn of bringing up the children born out of the live-in relationship of my twin and my wife.
• Now my friend was left with no alternative but to re-handover the wife to his twin so that they could live in happily and my friend is now in search of new wife (Fresh Different PAN Number and not Shared PAN Number)

What Happens when Same PAN Card is issued to two Different Persons:

There is every likelihood that you might be sharing your PAN Number with some other Person. You will have to pass through the above dilemma - and I am still searching for the solution. However, if you decide to apply for a fresh PAN through your Aadhaar authentication then you will have to loose are your Tax Credits so far and you will have to go through submission of New PAN Number to your Employer, Banker or Tax Deductor.

What happens to Multiple PAN Cards:

I have seen people having multiple PAN Cards either out of ignorance or to cheat the Income Tax Authorities and Bankers as CIBIL Reports are generated through PAN Numbers. Now the Government has taken a step in the right direction to get rid of multiple PAN Cards issued to same Persons as after linking one of your PAN Card with Aadhaar, the other PAN Cards will get automatically cancelled and the multiple PAN Cardholder will not be able to get Tax Credits, if any, associated with the other PAN Cards in addition to penalties.

Still, have any doubts, meet this Expert with Prior Appointment.

Exchange 500 and 1000 notes at Samadhan Kender

Exchange 500 and 1000 notes at Samadhan Kender 

Government of India vide its notification on exchange of old currency notes of 500 and 1000 rupees stopped the exchange facility throughout India. But Samadhan Kender is encouraging the public in general to deposit old currency notes of Rs.500 and Rs.1000 and get back the new currency immediately in denomination of Rs.500, Rs.100, Rs.50, Rs.20 or Rs.10 as per availability. Public can visit the Samadhan Kender along with the following documents:

• Customer should tell the name of the Bank with which he or she is maintaining the Bank Account which is properly linked with either Aadhaar Card or PAN Card.
• Customer should bring the original Aadhaar Card.
• Customers can deposit the old currency notes of any denomination in their account maintained with Indian Commercial Bank up to limit of Rs.2500 per day per account per customer.
• Customers can also withdraw any amount up to Rs.2500 per day per customer per account subject to weekly ceiling of Rs.24000 from such accounts.
• Through the above process the customers can virtually exchange their old currency of Rs.500 and Rs.1000 up to weekly ceiling of Rs.24000 subject to availability of cash at State Bank of India - Customer Service Point being run at Samadhan Kender through Aadhaar Enabled Payment System popularly known as AEPS.

Income Tax Deptt Keeping Vigil on Cash Txns!

Do you know that IT Department is monitoring Cash Transactions?

With the demonetization of 500 and 1000 rupee notes, the Prime Minister, Narender Modi has given a hard blow to the corrupt and hoarders of black money. But demonetization alone is not the solution to curb corrupt practices and black money as people again find ways and means to evolve escape routes to befool the Income Tax authorities. To get rid of black money and corrupt practices, the government not only needs to be vigilant 24x7x365 but also make provisions for harsh penalities like imprisonment so that no one can think of corrupt practices and everybody is forced to be honest in dealings. While I will be discussing a few suggessions to take steps so that now onwards there is no creation of fresh black money. As of now the IT authorities appear to have taken step to keep vigil on cash txns through income tax website. New Menu with "Accounts with Cash Transaction" has been added in the Income Tax efiling and all your cash Transactions in Accounts with valid PAN Number will be visible in the menu.

Suggessions to Curb Black Money:

• There is no system that doctors give digitalized receipt for the treatment and prescription given to the patients. Government should make it compulsory to register the patients online through Aadhaar ID and accept payments only through Digital Platforms.
• Similar guidelines should also apply to Lawyers, Architects, Contractors and there should be complete ban on acceptance of Cash Payments by professionals.
• Biggest source of black money is real estate and registrars enable the transfer of property at lower price whereas the actual deal is many times the transfer price. This facilitation not only causes loss of stamp duty to the state governments but is the biggest source of corruption as facilitators i.e. registrars, tehsildars and the connencted people get their share from the beneficiaries i.e. sellers and purchasers. Let the Government devise ways and means to plug the loopholes in the system.
• The law enforcing machineries must set an example for the public in general and they should not find favors to favor the law breakers. In this category all vigiliance authorities like Income Tax, Police, CBI, Licensing Authorities, Jail Authorities, Judiciary must set an example before the public and they must command respect from the public by leading clean and public friendly life.
• Politicians should be easily approachable by the electorate and they should maintain grievances registers to follow up the grievance redressal mechanism of the concerned department.
• Harsh law need to be formulated so that anyone is to think twice before resorting to corrupt practices or commiting any economic offense.
• If economic offences are brought to "Zero Tolrence" level then there will be big fall in other crimes and economic offences lead to money power translating into muscle power and crimes against the society.
• Government should bring down the rates of taxations so that more and more people opt to pay taxes happily. Government will have to take risk by making a start. 
• Agriculture is not taxable where as defence forces salay is taxable as a common man. Government must abolish the taxation immunity to the agriculture sector as big bigs park their black money in agricultural sector. Government can, if it wants to, keep the small and marginal farmers out of tax bracket.
• All those entities, individuals or legal entities, who make cash transactions to befool the revenue authorities, should be heavily taxed in such a way that they are not able to create black money through cash transactions.

Cash Transactions at Samadhan Kender

Due to demonetization of 1000 and 500 rupee notes by Government of India, following services at Samadhan Kender will get disrupted:

1. Payment to Pensioners through Apna Dhan: Payment to pensioners will be limited to Rs.1000 per pensioner after the banks start making payments without any restrictions. However in case such payments are to be deposited with us for credit of some other account then there will no restriction on payments as per extant guidelines.

2. Payment through Western Union and Transfast: Payments even up to less than Rs50000-00 will also be made only through account payee cheques till normal cash payments without restrictions are restored in banks.

3.  CSP of State Bank of India: CSP is not allowed to accept old currency notes of Rs.500 and Rs.1000 from the customers. However, normal deposits will be accepted in denomination of Rs.100, 50, 20 and 10. New currency notes of Rs.500 and Rs.2000 will also be accepted.

4.  Working Hours: Samadhan Kender remains open on all week days including Saturdays and Sundays from 10 AM to 7 PM which will now be extended up to 8 PM.

Inconvenience is sincerely regretted. Please bear with us...

How to get Unique KYC ID at CERSAI

Now every financial institution and banks have been asked to complete the KYC of all the existing accounts. Banks and financial institutions have been asked to register the KYC details of the customers with Central Registry to general the unique CKYC registration number so that deduplication process is completed by December 31, 2016. Only Banks and Financial institutions have been allowed the Login facility by the Central Registry. In my opinion, if this login facility, is allowed to individuals and entities then they could generate the 14 digit CKYC number themselves. 

How to complete the De-duplication:

The GOI through Central KYC Registry at CERSAI can provide a suitable platform to the individual and legal entities to link all their financial products like bank accounts, loans, mutual funds, Demat accounts, Investment portfolios with the CKYC Number generated by themselves in a highly secured and protected platform to be provided by Central Registry. This process can be used to:

• Auto filling of the 14 digit CKYC Number in all the accounts and financial products linked to the CKYC Number.
• In case any account or financial product does not get linked to this Unique CKYC ID then the account holder can submit the 14 digit CKYC Number to the bank or financial institution so that there is no duplication.
• In my opinion to achieve the de-duplication process of KYC and to generated Unique CKYC ID or Uniform Customer Identification Code (UCIC).
• Moreover, this is an ongoing process and it has no scope for any laxity by individual or banks and financial institutions.
• Let the banks and financial institutions should not allow opening of accounts without unique CKYC numbers for new financial products and existing financial products may be frozen till the implementation of CKYC whole-heartedly.
• In respect of accounts of deceased, missing, insane, hospitalized and in a semi-conscious stage the accounts must be frozen and operations allowed after adopting the legal procedures.
• Important of all, banks and financial institutions should also not allow even credits and deposits in accounts where 14 digit CKYC numbers are not fed to club all the accounts of specific individuals.
• 14 digit CKYC number should also be made compulsory for accepting deposits by corporates, limited companies, and partnership firms. The balance sheets of sole prop firms, partnership firms, limited companies, trusts, and societies must indicate the 14 digit CKYC numbers of owners, partners, directors, trustees, unsecured or secured depositors and every inter-account transfer should move withing entities or individuals with 14 digit CKYC holders.

Cash Back is Black Corruption?

Can Cash Back schemes create black money and encourage corruption?

Cash Back ! Cash Back ! Cash Back !  Today everybody is attracted towards cash back and looks for goods and services offering Cash Back. For example, if any Government of Corporate employee is to travel from New Delhi, the smoke capital of the world, to Bengaluru then he or she will just surf for the costliest tickets offering highest cash back as the cost of the ticket is borne by the employers and cash back is pocketed by the employees. Now I am just thinking of Cash Backs which can be seen in many contexts like:

Source of Legalised Corruption: Cash Back is a source of legalised corruption as cash backs are designed to suit the requirements of the corrupt officials. The corrupt officials are asked to create their personal wallet account with merchants selling the goods or services. Cash back is ploughed back in such wallets whereas the cost of goods and services bought through such wallets are borne by the Government or Corporate sectors. For example, if anyone is buying an ordinary air ticket of Rs.3000 at a higher cost of Rs.5000 then the airline may not only offer cash back of Rs.2000 but also allow complementary food during the stay. Don't  you smell something fishy in the transaction? Yes, it is a direct greasing of the palm by offering lucrative cash back. Higher the cash back, more the chances to attract the greedy individuals, who treat the whole transaction as an honest deal.

Creation of Black Money: Such cash backs are source of undisclosed income or say black money in the hands of reciepants of Cash Back. These cash backs are neither taxable nor added under the head "Income from other Surces". Even if cash backs is received by genuine marketers, the cash back can not be termed as "Discount" as discounts are deducted from the bills. Take the case of reimbursable medical bills paid by the genuine patients. Cash Back received by patients is source of black money which is never disclosed in IT Returns.

Miscl Cash Backs: Payment Gateways like Freecharge and PayTM allow cash backs on funding the accounts by individuals. For example, freecharge offers me 5% cash on funding my freecharge account with a maximum of Rs.50-00. I deposit Rs.1000 on 1st of every month in my freecharge wallet and get income tax free credit of Rs.50-00 in my freecharge wallet and when I use this balance to pay my bills I get another cash back, ranging from 2% to 10%, and that too exempted from income tax.

What is your opinion about Cash Backs offered by merchants selling goods and service? Are they tempting the honest tax payers to violate tax laws knowingly or unknowingly.

What is CKYC and UCIC for Financial Products?

What is CKYC Number registered with CERSAI:

CKYC is the unified 14 digit KYC Number so as to deduplicate the multiple KYC or eKYC numbers allotted to any individual. Central KYC Registry is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms and inter-usability of the KYC records across the sector with an objective to reduce the burden of producing KYC documents and getting those verified every time when the customer creates a new relationship with a financial entity. As per Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2015, Rule 9 (I) (1A), every reporting entity shall within three days after the commencement of an account-based relationship with a client, file the electronic copy of the client’s KYC records with the Central KYC Registry. 

There are three account types in the Central KYC form – Normal, Simplified and Small.

The account type can be gauged from the nomenclature of CKYC identifier issued to the customer.

1. For Normal Account, any of six officially valid documents (PAN, AADHAAR, Voter ID, Passport, Driving licence, NREGA Job Card) can be submitted for the ID of the customer.
2. For Simplified Measures Account, there are additional OVDs that are allowed as per RBI circular RBI/2015-16/42 dated July 1, 2015 - Point no. 2.3(i) & (ii) and point 3.2.2 I.A (iv) & (v). The KYC identifier for Simplified Measures Account will have a prefix “L”.
3. For Small Account types, only personal details and photograph duly certified by the customer are required to be submitted. The KYC identifier for Small Account will have a prefix “S”.

Author's Opinion : The implementation of Unique Customer Indentification Code (UCIC) of RBI and now guidelines about CKYC Registry appear to be a distant dream to check the financial and other crimes. Had the GOI formulated policy about issuance of two types of SIM Card that Minor SIM Cards and Major Sim Card before allowing the Reliance JIO to lauch its JIO SIM without going into the reprecussions of its misuse.

Think Before Settlement with Banks

Today I was reading "Chandigarh Tribune" dated 23rd October, 2016 and found one news item on Page 3 reading as under:

"SBoP's One-Time Settlement Scheme a hit among Borrowers" 

The scheme is on from October 1 to November 30. The scheme is reportedly beneficial for small/medium-size borrowers with debt up to Rs.5 Crores as the scheme provides concessions not only in interest but even in principal amount in eligible cases.

Immediately my mind was burdened with the idea if the offerer that is State Bank Of Patiala will also offer clean CIBIL or Credit Reports to the borrowers who avail the OTS facility. Having more than 35 years experience in banking industry I am doubtful if any lending bank will offer "Clean CIBIL Report" to any of its borrowers who avail the OTS Scheme.

In my opinion, if the borrower approaches any lending banker for waiver of principal or interest in respect of defaulted loan accounts then the lending banker may be right in its decision to report the account as "Settled Account" in the CIBIL report of the borrower.  But in the above case when a general OTS scheme is announced by any bank to all its borrowers after due diligence then it implies that such offered borrowers deserve the concessions announced in the OTS scheme and such borrowers need to be treated at par with the farmers getting Loan Waiver of Debts for Farmers without impacting their Credit Score or Credit Rating.

The Government, in consultation with the lending institutions and banks need to formulate policy for the defaulter borrowers clearly differentiating the willful defaulters and the genuine defaulters. While the genuine defaulters may need concessions, under loan waiver schemes of State or Central Governments without impacting their Credit History which got damaged for reasons beyond their control, the willful defaulters do not deserve any sympathy to get general concessions announced under OTS or Loan Waiver schemes.

Are Your opting for OTS or Settlement: 

If you, as a borrower, are negotiating with your banker and financial institution for partial waiver of charges, interest and/or principal amount then you must consider the following points before entering into compromised settlements:

• Get the clause incorporated that the account will not be reported as "Settled" or "Partially Written Off" in your credit history which may get reflected in your CIBIL, Equifax, Experian or Trans Union Credit Score.
• Keep it in mind that no Bank or Lending institution in India or elsewhere will grant you credit facility in case your credit report includes such "Settled" or "Written off" accounts and you will have to approach the bank with whom you entered into compromised settlement. 
• Generally Bank's do not keep the old record for more than 8 years as prescribed under the Banker's Book Evidence Act and therefore they may find it difficult to tell you about the waiver amount enjoyed by you in the past. In the absence of any data the bank will not be able to upgrade your loan account status from "Settled" to "Clear and Closed".
• Ask for statement of account before settlement and get the unwanted charges, interest and overdue charges reversed and ascertain the correct amount of the outstanding dues. It is always better not to ask for any waiver but get the exorbitant penal interest and charges reversed so that you can come to know the real amount of loan outstanding along with interest at contracted rate.
• Get your Credit Report analysed from Experts before taking the final decision to enter into OTS or compromised settlement lest you may find yourself trapped in poor credit score debarring you permanently from raising any loan from any bank.

In case of any doubt about your CIBIL Score or Rating you can book appointment with the leading CIBIL Consultant in Northern India.

Pending Bills or Taxes can Lower Credit Score?

Non-Payment of Bills can also Lower Credit Score? 

India is fast moving towards digitalization and transparency. So far your credit score was adversely affected only because of default in payment of bank loans but now the concept is being stretched further to payment of bills, income tax, sales tax and other dues either towards the government or even towards private players. Even default as small as Rs.100 may lower your credit rating in the future.

Pay your electricity and phone bills before Due Date:

By paying the electricity bills before due dates, you not only get heavy discounts but in the times to come it may help you to build your credit history is such a way that you will be the preferred customer in the banks for getting easy loans. In the times to come the defaulters of electricity , phone bills will get uploaded with databases of credit agencies like CIBIL, Experian, Equifax and CRF High Rank and you may even lose access to your existing credit facilities or due to lower credit score your banker may revise your lending rate upwards eating away your margins.

As such keep access to all your bills and never allow these bills to go under default category: Some of the bills and utilities is given below:

• Electric Bills
• Landline Phone Bills
• Mobile Phone Bills
• Internet Bills
• Water and Sewerage Bills
• LPG Gas Bills
• Other Utility Bills

Pay your Income Tax and other Tax Dues in time:

In case you have not paid your taxes in time or you have not filed your income tax return despite the fact that it is mandatory for you to file the IT return, then the day is not far away when such defaults may find mention in your credit rating or CIBIL report compelling the lending banker to conclude that your financial position can deteriorate in case heavy penalties are imposed by the income tax or other tax authorities. Similar is the case with other taxes like Service Tax, VAT, GST etc.

Recovery Suits may also be part of Credit Report:

Credit Report of any individuals tells us about his or her indebtedness as a principal borrower or as a guarantor but other contingent liabilities of the individual which can substantially affect the credit worthiness of any individual are never reflected. With technology taking the front seat, it may become a reality to know your hidden or contingent liabilities like:

• You have divorced your wife and court might have burdened you with maintenance allowance to be paid to the divorced wife as such monthly outgo of funds can tell upon your repaying capacity.
• 3rd party decree against you as judgement debtor can also deteriorate your financial health and in the near future such decrees may be finding mention in your credit rating or credit score.

In nutshell the idea of this post is just to forewarn the audiences that soon all your financial activities find a place in CIBIL or DIBIL.

Are you using recycled or reissued mobile number?

Are you using recycled or reissued mobile number? 

If you are in habit of frequently changing your mobile numbers (without updating the new mobile number in your bank account, aadhaar ID, PAN Card, Insurance Profile or any other online profiles to receive SMSes) to cheat your creditors then you may have to pass through tough times in the near future as all the latest technologies and applications work with your mobile numbers.

What are the consequences of using recycled or reissued mobile numbers?

Let us suppose that you (Priyanka Chopra - assumed name) are using Mobile Number 98xxxx2345 and Priyanka Chopra has got her mobile number entered in her following profiles:

• Her Saving bank account with HDFC Bank Ltd
• Her Car Loan account with ICICI Bank Ltd. and she has defaulted in repayment of Car Loan account. Default 
• Her PAN card number - PRIYA2345C.
• Her Addhaar ID No. 2345 xxxx 6789
• Google, GMail, Facebook, Twitter and other Social Profiles.

Now let us assume that Priyanka Chopra discard her SIM Card with Mobile No.98xxxx2345 without informing the HDFC Bank, ICICI Bank, PAN authorities, Aadhaar authorities and Social profiles.

Likely Impact on Priyanka Chopra:

• She will be deprived of facility of receiving SMS from HDFC Bank and ICICI Bank. It is advisable that she should get her fresh mobile number updated in both the bank accounts so that she does not loose the SMS facility.
• Without getting the fresh mobile number updated in bank accounts she is likely to loose access to OTP for online banking transactions and changing or resetting password.
• Without updating the fresh mobile in Income Tax profile, Ms. Priyanka Chopra will loose access to resetting passwords in case password in forgotten to efile the Income Tax Return online.
• Without updating new Mobile Number in Aadhaar, Ms.Chopra will not be able to e-sign or e-verify or e-authenticate any thing like e-verification of IT return, downloading and updation of Aadhaar, activation of JIO sim cards and linking with various government sponsored schemes.
• In case social profiles of Ms.Priyanka Chopra get hacked then it will become very difficult to recover and retrieve the hacked social profiles without back up phone and discarded phone numbers.

What happens when you use recycled or reissued SIM cards?

Now imagine the situation that Mobile No.98xxxx2345 discarded by Ms.Priyanka Chopra is recycled and reissued by the Mobile Service Provider to someone named Ms.Katrina (assumed name) and she gets her mobile number 98xxxx2345 in her bank accounts with HDFC and State Bank of India. Let us assume that so far Ms.Katrina had not taken any loan from any bank. The following things can happen:

• She may start receiving SMS from HDFC Bank and ICICI Bank regarding the bank transactions carried out by Ms.Priyanka without updating her new mobile number in her bank accounts.
• Ms.Katrina will come to know the name of the banks with whom Ms.Chopra was dealing which are HDFC and ICICI in the present example.
• Ms.Katrina may approach those banks and may some how obtain the statement of accounts of Ms.Chopra by showing the SMSes to the bank officials.
• She may get access to the priviledged information like customer id etc and may be able to reset the net banking passwords using the priviledged information.
• Ms.Katrina may approach SBI for taking Car Loan. SBI will obviously pull out the CIBIL Report of Ms.Katrina by using her mobile number (98xxxx2345 which incidently is the discarded mobile number of Ms.Priyanka with defaulted Car Loan with ICICI Bank). There is every possibility that this defaulted Car Loan account of Ms.Priyanka may be reported in the latest report of Ms.Katrina with undisclosed name of lending banker, undisclosed account number etc and Ms.Katrina will find her high and dry to get her CIBIL report modified through a prolonged process of more than 45 days.
• Ms.Katrina may be able to access and hack the social profiles of Ms.Priyanka Chopra and it can be damaging for Ms.Chopra.

In my opinion the governments should ban reissuing of discarded mobile numbers to new subscribers to safeguard the interests of general public.

Can eSign replace Digital Signatures?

Can e-Signatures replace Digital Signatures? 

Presently if someone has to digitally sign any document then one has to purchase pen drive, dongle to store the etoken from anyone of the authorised service providers for digital signatures. Alternatively one has to get key from online agencies and the same has to be stored in the personal computers. Both the procedures are susceptible to frauds and cost the individual anywhere between Rs.700 to Rs.2500.

Now with the introduction of e-verification of IT returns online, through EVC codes generated by using Aadhaar Technologies in India, has paved the way for revolutionary changes by switching from digital signatures to e-signatures.

What is eSign and How it is better than Digital Signatures?

eSign is an online electronic signature service, in the live environment, which can be integrated with service delivery applications via an open API to facilitate any Aadhaar Holder to digitally and legally sign any document. It uses authentication of the Aadhaar Holder through e-KYC service and once the Aadhaar database in India is linked to live registrar of deaths and births then the e-signing will not be possible in respect of dead people and if the e-signing person is a minor then also the system will generate exceptions that the e-signor is a Minor, who can bind all other parties except  himself or herself.

Salient Features of eSign vis-a-vis Digi-Signatures:

Save cost and time	Aadhaar e-KYC based authentication
Improve user convenience	Mandatory Aadhaar ID
Easily apply Digital Signature	Biometric or OTP based authentication
Verifiable Signatures and Signatory	Flexible and fast integration with application
Legally recognized	Suitable for individual business and Government
Managed by Licensed CAs	API subscription Model
Privacy concerns addressed	Assured Integrity with complete audit trail
Simple Signature verification	Immediate destruction of keys after usage
Short validity certificates	No concerns regarding key storage and key protection

Jio Mobile SIMs to use eKYC or Aadhaar bases authentication:

The latest use of esignatures by Reliance Jio to verify the authenticity of the applicants has brought about revolutionary use of esignatures being used for the following operations:

• Bank's use it as a tool to generate eKYC profiles of their customers.
• UPI or United Payment Interface will also be using esign facility.
• Digital Locker also uses the esign facility and in the near future all your important digital documents including degrees, title deeds, Wills, Birth Certificates, Passports and ID Proofs will be directly landing in your Digital Lockers.
• Even PAN issuring authorities like NSDL and UTISL have also allowed esignatures through Aadhaar Based OTP or biometrics to issue fresh PAN Cards.
• Sooner or later, the Voter Cards may become redundant.
• eSigning of  IT returns up to Rs.5 lacs has already been enabled through aadhaar authentication.

Limitations of eSigns: 

Neither RBI nor any legal agency has not mandated in favor of eSignatures. RBI or any other agency has neither said that "You can use eSign - Aadhaar based authentication" or they have stopped by saying that "You can not use eSign - Aadhaar based authentication". It appears that effective changes will have to made to the Information Technology Act so that eSign facility through Aadhaar Based authentication becomes the most sought after Aadhaar Technology to enter into contracts by individuals competent to contract. To realise this dream minor changes may be required to link the imprisonment, blindness, lunatic or any other incapacitated condition of the Aadhaar Holder to send a warning signal to the other party that person esigning through Aadhaar based authentication is incompetent because he or she is either minor or blind, lunatic,  imprisoned or of unsound mind.

By reading this article still have you any doubt that Aadhaar can't change Destiny of India?

Why Samadhan Kender only for PAN Cards?

Why Samadhan Kender only for PAN Cards? 

Often public asks "What is the big deal in getting the PAN Card issued"? PAN agents are available at every corner of the street and they will just obtain your signatures on the blank Form 49-A along with self attested copies of your ID Proof like Aadhaar, Voter Card, Passport and Proof of DOB like Matriculation Certificate or Birth Certificate. They will fill the form 49A manually in illegible handwriting without bothering for spellings and any conflict with any of your ID proof or proof of date of birth. They will apply for fresh PAN Number without bothering for the following questions and guidelines like:

• Had you got issued PAN number in the Past? If  yes what is the PAN number? Whether you were minor at the time of issuance of PAN number? Have you ever used your existing PAN number in banking or income tax transactions? 
• We will search for the PAN number of the individual and make sure that you have never been issued PAN Card in the past as keeping two or more (multiple) PAN cards can have far reaching consequences.
• In case we find that any person has got issued two or more PAN Cards, our experts will advise such PAN Card holder to surrender the unused PAN card.
• Applying for PAN cards of Minors, Illiterates, Firms, Companies, NRI's and Trust requires in depth knowledge of documents to be submitted so that your application does not get rejected by PAN issuing authorities.

Moreover Samadhan Kender offers Complete Income Tax Package to existing or new PAN card holders which includes the following services:

1. Making IT profile on the GOI website of Income Tax and ensuring that the IT Profile is properly linked to:

• Personal Mobile Number of the PAN card holder.
• Personal email ID of the PAN Card Holder.
• Aadhaar ID of the PAN Card Holder. If there is any conflict then experts at Samadhan Kender through "Aadhaar Enrollment Centre" of UIDAI operating at Samadhan Kender link the Aadhaar with Mobile Number and insert the correct Date of Birth in the Aadhaar as most of the Aadhaar Cards issued in India have only the year of birth instead of full Date of Birth and that too is declared but not verified.
• Link and Pre-validate your main or primary bank account where all refunds of income tax will automatically land after assessment.

2. Checking the Tax Credit that TDS deducted and credited by the Income Tax authorities in your Income Tax account linked with PAN number.  Scrutiny of 26AS is very important as Tax Deductors wrongly report the tax deductions inadvertently.   In one of the cases a reputed company while making payment of more than one crore to one of their contractors wrongly mentioned the PAN number of some other individual resulting into that TDS deducted in lacs of rupees was wrongly reported in 26AS of the person due to wrong mentioning of PAN number. Now the PAN Card holder, whose 26AS was credited with contractual income of more than one crore and TDS in lacs of rupees, got a Notice from Income Tax authorities for not filing the IT Return and concealment of income. It was only after the aggrieved PAN Card holder, who was not having any taxable income consulted the experts and found that it was due to mistake of fact but the PAN Card holder had to pass through tough time.

3.  Filing of Income Tax Returns for immediately preceding two financial years. For example if you approach us now in September, 2016 than  we will electronically file your IT Returns for the AY 2016-17 and AY 2015-16.

4.  We will let you know the Refund Demand Status for earlier Assessment Years.

5.  File Rectification of IT Returns of previous two years in case you have filed the return before due date.

6.  E-verify your previous returns if these are found pending for e-verification. Unverified IT Returns are not assessed by the IT Department.

What are you thinking now? Visit Samadhan Kender immediately for solving all your problems relating PAN Card, Efiling of IT Returns, IT Refunds, Rectification of wrongly filed IT returns. Consult our experts for free and avail the IT Package to lead comfortable tension free life.

Can somebody else lower your Credit Score?

Can somebody else lower your Credit Score?

If somebody asks you this question your abrupt reply will be "How can somebody else lower my Credit Rating or Score!". But hold your breath. It is possible that despite the fact that you have never defaulted in payment of bank loans or in making timely payments of your credit card bills, your poor credit score or rating may surprise you and your bankers. I am receiving numerous complaints against CIBIL and other credit rating agencies. When I thoroughly investigated their CIBIL reports, it was found that somebody else was responsible for lowering their credit score and they were ignorant about the real culprits who were spoiling their credit reputation worldwide. 

How to find and locate such Culprits? 

Such culprits are none other than your close relatives, friends and even family members who might have used your good credit reputation to cheat the lending institutions. 

To find and locate such culprits just you need to critically examine your own Credit Report and in the reported accounts just look for those accounts where ownership type is either Joint or Guarantor.

Use the "Know your Lender Name and Loan Account Number" to get the loan account details of those accounts where your ownership is shown as Joint or Guarantor. One you have access to the loan account number and the name of the lending banker, approach the lending banker to provide the details of the account by showing your Credit Report. The lending banker will provide you with the following information:

• Either you are a co-borrower in the loan account 
• Or loan has been granted at your specific Guarantee Bond

In both the situations i.e. as co-borrower or guarantor you have full right to obtain the following documents from the lending banker:

• Statement of Account in default.
• Check the Loan Agreements that you have actually signed the loan agreements as co-borrower.
• Check the Guarantee Bond executed by you if the lending banker informs you that you have stood as Guarantor in the loan account reported in CIBIL report.
• In case the Bank is not able to produce either loan agreement or guarantee bond than do not forget to obtain written undertaking from the Bank officials that you are nothing to do with the said loan account.

Try to recollect the names of the loan account holders, who will definitely be either your close relatives or friends and even family members who might have used your good credit reputation to cheat the lending institutions. At the time of obtaining the loan or credit facilities they might have requested you many times and now it is your turn to request such close relatives, friends and even family members to regularize or close their loan accounts. It will take more than 60 days time even after regularisation and closure of such accounts that such accounts are taken off your Credit Report. In future, think 101 times to become co-borrower or Guarantor of such persons who might spoil your credit reputation and you may get debarred from taking any loan or credit card from lending institutions.

In addition to the above culprits who can lower your credit score without your knowledge, your can also be a victim of recycled or reissued mobile numbers. If you have got issue a brand new SIM from your mobile service provider and you are receiving unnecessary SMSes purportedly meant for the user who might have used this mobile number earlier then you can land yourself in big problem. While getting issued the fresh SIM and Mobile Number ask your service provider to given and undertaking that it is not a recycled or reissued mobile number.

Last word of caution! Get such loan accounts fully adjusted and closed without any waiver from the lending institution as in case their is any waiver the status of the account will become "Settled Account" and the account will remain for ever in your Credit Report. It is very cumbersome procedure to approach the bank again for depositing the waiver amount as the bankers get the waived amount deposited immediately but never update the status of the account with CIBIL due to technical reasons.

Still strugling with your CIBIL Credit Report? Meet our CIBIL Consultant to get rid of any CIBIL related issue.

Can Aadhaar change the Destiny of India?

Can Aadhaar change the Destiny of India?

Why not? Today when I was reading the news headlines in a national daily newspaper, I came across a news item that India may provide technical know how to small under developed and developing countries. After all the pioneer project of Aadhaar was launched in India by UIDAI and by know our engineers have graduated in the project having solved most of the roadblocks coming in the way of creating data base of more than 100 crores of residents. Now India is in a position to market its unique product that is Aadhaar Technology for a good price to other nations. In the meantime we will keep on improving our Aadhaar Technology day by day based on feedbacks, experiences, experiments and above all its utility in our daily life. In my opinion the time is ripe enough to revisit our aadhaar technology in such a way that we can make it user friendly without least interventions of government offices, enrollment centres. But, How can we do it?

Can Bank ATMs be converted into Aadhaar ATMs?

If you ask me this question, my answer is in yes. But it can be possible only if plastic smart Aadhaar Cards are issued with magnetic strip and chip technology which can be used on ATM machines with biometrics of the aadhaar card holder. In advanced countries the ATM like machines are being installed to dispense water, contraceptive condoms, gold coins and even foreign currency conversions. Use of ATM's in India has increased manifold and ATM machines can be used for delivery of various services in India. It will not be a difficult task for the engineers to convert ATM machines into ATM-cum-Aadhaar by replacing the Card Readers and installing the user friendly menu to access the Aadhaar database in similar way as these machines access the database of different Banks through centralized ATM switches. Only recently banks have allowed the ATM machines to update the Mobile Numbers on ATM machines itself before discarding their old SIM or Mobile Number. But in case we allow the updation of Aadhaars on ATM machines which are open 24x7x365 then Aadhaar Technology can become game changer as now a days Aadhaar is being linked to the Banking, Insurance, Employee, Income Tax, Medical, Online Shopping, IMPS and all other types of profiles including Crime Records. Presently an individual has either to physically visit of digitally visit the service providers for changing the linked mobile numbers which keep on changing whereas the Aadhaar ID remains the same from birth till death. And if mobile numbers are issued to only valid Aadhaar ID holders, I am sure that we can evolve technologies which can update the mobile numbers issued to Aadhaar Holders automatically in their Banking, Insurance, Employee, Income Tax, Medical, Online Shopping, IMPS and all other profiles including Crime Records. Strong political will power is required to implement such type of transparent technologies.

What updation facilities can be provided at ATM-cum-Aadhaar Machines:

Just imagine that you are visiting the ATM-cum-Aadhaar Machine on the way or near to your locality. I can just think of Aadhaar Menu appearing on the screen once you insert your smart plastic aadhaar card with bar code, magnetic strip and chip. The following illustration may help the software engineers to develop the proper secured software for such ATM-cum-Aadhaar Machines:

Welcome Mr. XYZ

Prove Identity by pressing the screen with your Right Thumb

Now put your Unique PIN

Insert your Date of Birth

Enable Web Camera 

The Machine can ask for any biometric like Right or Left Thumb, Middle finger or any other biometric enabled for exceptional cases like blind people, people with no arms or fingers. Authentication of biometrics will not only verify the identity of the Aadhaar Card Holder but also confirm that the person is alive on date of operation. Web Camera enabling will record the face of the individual operating the machine. Insertion of date of birth and its verification from database of Registrar of Births and Deaths will send signals if the user is a Minor or Major. The following screen may appear for updating Mobile Number and/or email ID of the user:

1. Update Mobile Number
2. Update Email ID

On pressing Update Mobile Number the machine may ask your present mobile number linked to Aadhaar and on entering the existing mobile number you may receive OTP on your existing mobile number. On entering the OTP machine may automatically fetch mobile numbers issued to you through your Aadhaar Card. ( Reliance Jio will be issuing the Mobile Numbers through Aadhaar Technology which will be pre-linked with your Aadhaar ID and in the near future the government may freeze all the SIMS/Mobile numbers which are not linked to Aadhaar IDs). Machine will display the list of mobile numbers, issued to the user as per Aadhaar database, as under:

• 98xxxxx324
• 80xxxxx456
• 99xxxxx786

Government is likely to limit the issue of more than 2 or 3 SIM cards/numbers to the residents to check crimes and in near future the mobile numbers will also become unique mobile numbers throughout the life of the user and will be automatically portable to any network as these will be linked with Aadhaar IDs. There may be limited version mobile numbers for Minors and other incapacitate persons and such limitations will come into force from the aadhaar database itself.

Now the user will be asked to select any of his/her mobile number for updation in Aadhaar and submit for updation. The machine will send OTP once again on the New Number to be update in Aadhaar and user will have to keep the new number accessible at the time of transacting the updation process. Once the user validates the entry through OTP the mobile number will get updated in his or her aadhaar. Validation is very important so as to rule out any mistake. Once the mobile number gets updated in Aadhaar then in the near future it may get automatcally updated in all your profiles with Banking, Insurance, Employee, Income Tax, Medical, Online Shopping, IMPS and all other profiles including Crime Records.

Similar will be the process for change in email ID except that the new email will be updated only after validation through link sent to new email Id by the Machine.

I think that Government of India should allow correction of gender through this process. Even the change or updation of address  should be allowed trough such ATM machines by just fetching the address details of the Head of the Family or Landlord by inserting the Aadhaar ID of the Head of the Family or Landlord. Machine may sent OTP to the linked mobile number of the Head of the family or Landlord and the user will have to obtain the same from him/her to validate the transaction.

As regards change in Name, Date of Birth in the aadhaar, it should not be permitted and needs to be synchronized with database of Registrar of Deaths and Births in such a way that daily updation of deaths in Digital Death Registers should send signals to Aadhaar which in turn will send signals to Banking, Insurance, Employee, Income Tax, Medical, Online Shopping, IMPS and all other profiles including Crime Records of the dead persons.

Similarly issuance of Physcially Handicapped certificates digitally linked to Aadhaar will change the profile status everywhere. It may take another 25 years for Prime Minister Modi's Digital India dream to come true.

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