2 years ago, I wanted to use the Aadhar based OTP method of e-verification. But it wouldn’t work. The system failed to match the records.
The reason is my PAN. My PAN was created in 2002 or 03. At that time, I had a middle name – “KUMAR”.
You see, my father is a old Bollywood movies fan.
Systems are programmed to behave like systems. For my PAN and my Aadhar, I was two different people, courtesy my middle name.
So, they didn’t link and did not allow me to e-verify.
What do I do?
Given that I favour minimalism, I decided to drop “KUMAR” from my name.
The PAN change process started. Thankfully you can make the application online. You can do it through this link.
What’s the proof of name change? Interestingly, I sent my Aadhar card, which has NO middle name. It was accepted as a valid proof.
In a couple of weeks the PAN was updated and I received a new PAN card.
Finally last year, I used Aadhar based OTP method to e-verify my tax return online.
Note: In case you want to update your Aadhar details, go to the official website UIDAI.GOV.IN and apply from there.
Why am I telling you all this?
Aadhar is now becoming a central link across all your identities. So much so that the govt has said that going forward, it could be the ONLY identity that an Indian will need.
While one may debate the pros and cons, the fact is that Aadhar has already made mandatory for availing most government program that includes a subsidy such as gas connection or college education supported by the government.
The benefit is now a direct transfer to your bank account. But before that you have to seed your bank account with your Aadhar number.
As per a recent announcement, you now have to link your Aadhar to your PAN for filing Income Tax Returns.
And as in my case, you too can face the same problem. I have come across several instances where names are different in different identity documents.
Post marriage, if a female changes her surname that should also be updated in the identity documents.
You see, I have a PAN, a Driving License, an Aadhar and a Passport. I am sure you do too. They all are used at various purposes. They will all be interlinked soon.
Get your details corrected/updated now across your identities. True that for your family members as well.
It is a hassle but for once, it is better to get it out of the way.
I am on it too.
You should also ensure that the name on your investment documents, KYC (or CKYC now), Bank accounts reflect one identity, one name.
Submit the latest proofs wherever required to the respective insurance, mutual funds, demat accounts, PPF, Post Office accounts, etc.
This will help you minimise any future issues in dealing with your investments.