The Permanent Account Number (PAN) and Aadhaar can now be used interchangeably. In this regard, the Central Board of Direct Taxes (CBDT), via a notification dated November 6, amended more than 100 forms where now an individual can quote either his Aadhaar number in lieu of PAN.
If you are planning on quoting your Aadhaar number instead of your Permanent Account Number (PAN), you have to make sure you have done this one thing. Your PAN should be linked with your Aadhaar, and if this is not done, you could end up with a second PAN - which can land in you trouble with the law.
Section 10(15)(i) of the Income-tax Act, 1961, provides exemption in respect of interest, premium on redemption or other payment on certain deposits notified by the central government in this behalf.