Relief from stringent PAN norms may be temporary

Feb 08, 2014

The relief given to permanent account number (PAN) applicants from furnishing original documents may be temporary. After putting the decision in abeyance within a week after notifying it, the tax department is planning to enforce it again, albeit with some relaxation.

The Directorate of Income Tax (Systems) has written to the finance ministry, conveying its concern about the misuse of PAN cards, and asking it to make the verification process fool-proof.Read More

New PAN card to cost Rs 105

Jan 28, 2014

New PAN cards issued by the income tax department will cost Rs 105, including taxes. The I-T department has recently notified new procedures for verifying personal and proprietary data of an individual or entity for allotment of new PAN cards. The step, sources said, has been taken in order to weed out the problem of fake or multiple Permanent Account Number (PAN) cards.Read More