Essential Documents That You Must Have
Business Today|July 03, 2016
Essential Documents That You Must Have

Apart from proving your identity, these documents have other benefits that you may not know about. Read on to find out.

Teena Jain Kaushal

Gone are the days when you needed your identity proof documents on just a few occasions. Today, you might be asked for your Aadhaar card or PAN card while paying hotel bills or for purchasing a car or jewellery. The financial consequences of not having these documents could be significant.

For instance, apart from being an identity proof, several benefits have been linked to Aadhaar card, such as getting online appointment for marriage/birth certificate. So, don’t think that just because you are not a beneficiary of direct benefit transfer, you do not need to have one.

Hitesh Singla, Principal Partner, Square Yards, says: “Registration of sale deeds is being withheld in some state registrar offi ces without Aadhaar cards despite the Supreme Court ruling that the card cannot be linked with essential services.”

N. K. Prasad, President & CEO, CAMS (Computer Age Management Services), says: “Mutual fund penetration, especially in Tier-II and Tier-III cities, can be accelerated with Aadhaar-based e-KYC. Investors can now have a complete digital experience with Aadhaar based e-KYC and seamlessly invest in Mutual Funds.” Here is the low down on what essential documents you should have and what they do.

AADHAAR CARD

ISSUED BY: Unique Identification Authority of India (UIDAI), Government of India

PURPOSE: Verification of identity

WHAT IS AADHAAR CARD? Aadhaar is a 12-digit number code used for establishing identity on the basis of demographic and biometric information. It is equivalent to the social security number used in the US.

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July 03, 2016