Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Friday, 9 February 2018

Two Years in the Making ?





Economic Times ( 09  Feb ) carries following news :









The government has been in discussions to turn the Permanent Account Number (PAN) into the enterprise unique ID, a feature which was announced by finance minister Arun Jaitley while presenting the Union Budget. 


Though the idea was first mooted a couple of years ago, the recent discussions suggest that among the plethora of IDs which are held by enterprises, making PAN the unique ID will be the most conducive option. This will mean that even the non-tax paying entities such as not-for profits, trusts or societies will have to now apply for a PAN number. It has also been suggested that this PAN number or the unique identity can be linked with the Aadhaar number at the backend.




There are over 30 crore PAN numbers in the country and around 15 crore have already been linked to Aadhaar as per government estimates. 


Sachin Seth, Partner-Advisory Services, EY India told ET that most of the corporates today don't have a single identity and there is a multiple ID system because the corporate landscape has evolved in the country over many years. 


"If Aadhaar can really get stabilised as national identity like in US, then it can knock off DIN ( Director Identification Number )," the official said, adding that the option of PAN replacing the Company Identification Number ( CIN ) has to be seen. 


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Even though it has taken 2 years , I hope the final outcome will ensure merger of those 16 Alpha-Neumeric Numbers that an Indian Company is today required to obtain ( from as many number of government departments / agencies ) , as listed in my following 2 YEAR old blog ( sent as email to NDA Ministers ) :


An" Aadhar " for Corporate ?  [  12  May  2016  ]


09  Feb  2018

 




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