Bhubaneswar: If you have opened your bank account between July 2014 and August 2015 and do not want your account to be blocked by the bank, rush to the bank to link your account to your Aadhar number.
The Income Tax department has declared on Tuesday, accounts opened in the said period have to submit their Know Your Customer (KYC) documents and Aadhar number by 30 April, failing which the account will be blocked.
Insurance and stock accounts have also been included in the order.
The move comes after Aadhar number linkage was made mandatory for mobile numbers and tax filings. The step would help track tax evaders through the Foreign Tax Compliance Act (FACTA) — a pact signed between India and the US to trade tax related information.
"The account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts would be blocked, which would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts," the tax department said in a statement.