PAN card to be issued within 48 hours of applying - RNews1 Network

PAN card to be issued within 48 hours of applying

PAN card, Permanent Account Number, Central Board of Direct Taxes, Income Tax Department
New Delhi : The government will soon launch a facility under which a Permanent Account Number (PAN) card will be issued within 48 hours of applying, according to a senior official. "An online facility for issuance of PAN is on the anvil under which an applicant can get a PAN card within 48 hours," the official said. 

Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards.Permanent Account Number or PAN is a 10-digit alphanumeric number issued in the form of a laminated card by the Income Tax Department. 

Recently, the Central Board of Direct Taxes (CBDT), the apex policy-making body of the I-T department, had issued a notification making the Elector's Photo Identity Card (EPIC) and Aadhaar valid proofs of "date of birth" for obtaining a PAN card.

PAN is required for filing income tax returns, sale or purchase of any immovable property beyond a certain amount and sale or purchase of a motor vehicle, among others. The Finance Act 2015 proposes quoting PAN mandatory for buying jewellery valued at Rs 1 lakh or more.

The official further said that a total 4.73 crore tax returns were filed in 2014-15, of which only 6 lakh were scrutinized by the Income Tax Department.



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