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PAN, Aadhaar interchangeable for tax returns; 2% TDS on cash withdrawal over Rs 1 cr/yr proposed: FM Sitharaman

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Interchangeability of PAN and Aadhaar card to be allowed for ease and convenience to taxpayers. ITR can be filed without PAN by quoting Aadhaar; to discourage practice of making business payments in cash, I propose to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore a year from a bank account; establishments with annual turnover of Rs 50 crore will offer low-cost digital mode of payments to customers and no charges or merchant discount rates shall be imposed on customers as well as merchants. Listen-in.

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