One Vehicle, One FASTag implemented; 9 important things all FASTag users should know

 

One Vehicle, One FASTag: All you need to know.

Synopsis

FASTag KYC: "NHAI has taken this initiative after the recent reports of multiple FASTags being issued for a particular vehicle and FASTags being issued without KYC in violation of RBI’s mandate," stated a PIB release.

By ET Online
Follow us

The 'One Vehicle, One FASTag' initiative of the National Highways Authority of India (NHAI) has been implemented starting Monday, April 1, 2024. The 'One Vehicle, One FASTag' concept aims to deter the practice of using a single FASTag for multiple vehicles or associating multiple FASTags with one vehicle. NHAI had previously extended the compliance deadline for the 'One Vehicle, One FASTag' initiative to the end of March, considering the challenges encountered by Paytm FASTag users.
Also read: Is your FASTag KYC incomplete? Check here

Why One Vehicle, One FASTag concept was launched

"NHAI has taken this initiative after the recent reports of multiple FASTags being issued for a particular vehicle and FASTags being issued without KYC in violation of RBI’s mandate. Apart from this, FASTags are sometimes deliberately not fixed on the windscreen of the vehicle, resulting in unnecessary delays at the toll plazas and causing inconvenience to fellow National Highway users," as per a Press Information Bureau release from January 2024.

FASTag KYC

NHAI is also encouraging FASTag users to complete ‘Know Your Customer’ (KYC) process of their latest FASTag by updating KYC as per RBI guidelines. FASTags with valid balance but with incomplete KYC will get deactivated/blacklisted by banks post February 29, 2024, stated the PIB release.
Here are a few important FAQs on the One Vehicle, One FASTag initiative available on the Indian Highways Management Company (IHCML) website.

Does the concept of 'One Vehicle One FASTag' imply that a vehicle owner must exclusively recharge their FASTag using a specific bank?

No, the ‘One Vehicle One FASTag’ concept indicates that a vehicle owner is permitted to have only one active FASTag for one vehicle. All the FASTags linked to a single vehicle except the latest one shall be de-activated. Acquiring multiple FASTags for a single vehicle is not permitted. However, users have the flexibility to recharge their FASTag using any bank and various payment methods such as BBPS, UPI, net banking, etc.

How can I check the status of multiple FASTags linked to my vehicle?

To check the status of multiple FASTags linked to your vehicle, you can follow below steps:

Also read: Where to buy FASTag: Full list of NHAI-authorized FASTag issuers

How do I know if my FASTag KYC is incomplete?

If your FASTag KYC is incomplete, you will receive notification via email, SMS, or through issuing bank’s application interface regarding incomplete KYC. You are requested to keep an eye on your registered communication channels such as SMS, e-mail, etc. for updates. The KYC can be updated online as per following procedure:

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more