PAN (should be renamed in my point of view) card - #SmartTIN, #SmartTAN, #SmartTDAN, #SmartTSN

The Tax card have to be swiped for all banking, financial transactions mandatorily in case of direct usage or counter usage..  This ensure that there are no human errors involved in a transaction that requires Tax Account number.  In case of online transactions the Tax account number shall be used for every such transaction either through card swiper machine or interface in their laptop or as NFC authentication or through a e authentication workflow that issues a OTP.  

This ensures that all financial transactions by us are completely legal, Tax Or Tax law complaint, audit Transparency is achieved and helps in curbing bribe or corruption.

Hopefully, such measures are introduced, Mandated and becomes a normally accepted financial transactional practice. 

For example the banking rule by RBI to provide Tax account Number when the transaction value is greater than 50,000 could be easily tracked by swipe or SmartTINCard, or and OTP authenticated, or and biometric authentication shall ensure that value of money is not degraded through illegal practices.

#SmartTIN, #SmartTAN, #SmartTDAN, #SmartTSN

TIN - TAX IDENTITY NUMBER

TAN - Tax account number

TDAN - Tax Deductors account number

TSN - Tax Submission Number

What do we think or say about this idea?