Notifications (June 2021)

AFTER THE DEATH OF THE HOLDER, WHAT HAPPENS TO AADHAAR, PAN, VOTER ID, AND OTHER LEGAL DOCUMENTS?

Legal heirs of a deceased person are frequently unaware of what to do with the deceased’s many official papers and government IDs, such as PAN cards, Aadhaar cards, Voter ID cards, passports, and so on. Here’s how to handle various government official papers such as a deceased person’s PAN, Aadhaar, passport, and so on. 

  • AADHAR CARD

The Aadhaar number is used to prove both identity and address. It is required to cite or submit a copy of the Aadhaar number in different locations, such as when applying for LPG subsidies, government scholarship benefits, and EPF accounts. Aadhar is designed to be a one-of-a-kind identifying number. The Unique Identification Authority of India is not yet linked to state-by-state death records. Aadhaar is also not required for death registration or obtaining a death certificate. It is critical for legal heirs or family members to ensure that this is not abused.

  • PAN CARD

PAN cards are required for a variety of purposes, including bank accounts, Demat accounts, and the filing of a deceased person’s income tax return (ITR). As a result, the PAN must be kept on file until all accounts requiring the PAN are closed. When submitting ITRs, the PAN must be kept on file until the tax return has been filed and processed by the  I-T department. 

Keep in mind that the IT department has the authority to reopen assessments for up to four years, including the present assessment year. Also, double-check that any income tax refunds owing to the dead have been deposited to his or her bank account.

  • VOTER ID CARD

In the case of voter identification, the Registration of Electors Rules, 1960, provides for cancellation in the event of death. “A legal successor of the deceased individual would be required to approach the local electoral office.” For the cancellation of a person’s name from the voters list on Election Day, a specific form, Form No. 7 under the Electoral Rules, must be filled out and submitted together with a death certificate.

  • PASSPORT

There is no provision for surrender or revocation of a passport in the event of death. In addition, there is no method for notifying the appropriate authorities.” However, once a passport has expired, it becomes invalid by default. However, you should save this paper since you may need it as proof in the future if anything unexpected happens.

  • DRIVING LICENSE

There is no mechanism for the deceased’s driver’s license to be surrendered or canceled. However, because each state regulates the issuance, suspension, and revocation of driver’s licenses differently, it’s best to double-check the state-specific legislation. 

The cancellation of a license can be done by going to the appropriate RTO office. In addition, heirs can check the state-specific procedure for transferring a vehicle registered in the deceased’s name to his or her own name.

FROM AUGUST 1, 2021, THE RESERVE BANK OF INDIA HAS AUTHORIZED AN INCREASE IN INTERCHANGE ATM FEES.

The Reserve Bank of India (RBI) increased the interchange fee that banks can charge on automated teller machine (ATM) transactions to a maximum of 17 rupees per transaction. The fee paid by the bank that issues the card to the bank where it is used to withdraw cash is known as ATM interchange.   Because this fee is split between the acquirer and the business that maintains the ATM, banks discourage consumers from using other banks’ ATMs.

This cost has been a source of controversy between banks and ATM deployment firms, with the latter requesting an increase from Rs.15 to Rs. 18 per transaction. With effect from 1 August, the interchange for non-financial transactions has been increased to Rs 6 from Rs 5.

The Reserve Bank of India established a committee in June 2019 under the head of V.G. Kannan, the then-CEO of the Indian Banks’ Association. The committee had proposed that ATM charges be calculated using population as a parameter. The committee’s recommendations were made public in July 2020. According to Census 2011, it proposed a rise in free ATM transactions in all cities with populations of less than 1 million, which would be examined on a regular basis. It had suggested keeping the free transaction limit at three for cities with a larger population.

It was also proposed that the interchange charge for ATMs in cities with populations of 1 million or more be increased by Rs 2 to Rs 17 for financial transactions and Rs 7 for non-financial transactions. It advised that for cities with populations of fewer than 1 million people, costs for both types of transactions be increased by a factor of Rs 3 in order to improve ATM usage.

Customers are also entitled to five free transactions per month from their own bank ATMs, according to the RBI. They can also use other bank ATMs for free transactions. Customer costs are now capped at Rs 20 per transaction, however, this will increase to Rs 21 on January 1, 2022.

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