Finance Bill amendments: What the key changes mean for us

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The finance ministry moved on Tuesday as many as 40 amendments to the finance bill, in an unusual step. The amendments, over and above the proposed changes in the budget 2017, aim to implement far-reaching changes from cash transactions to tribunals.

A look at some of the key changes.

Amendment: Aadhaar mandatory for PAN and Income Tax Return

What it means: To ensure Aadhaar enrolment as the government expands the usage of the unique identification number. A failure to provide Aadhaar will result in the PAN becoming invalid. This rule is effective from July 1, and Aadhaar enrolment number in place of the unique identity card will also be acceptable.

Aadhaar might become the sole identity card in the future, finance minister Arun Jaitley said in Parliament on Wednes


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