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Income Tax Department: 24.37 Crore persons have PAN
Posted on: 25/Feb/2016 3:56:21 PM
The Department of Income Tax has informed that 24.37 Crore persons have been given PAN (Permanent Account Number) cards.
This is pass the latest statistical data available with the IT department.
The senior official from IT department gave the exact figure - PAN cards have been issued to 24.37 Crore persons.
The central government has ordered that PAN card details must be provided for all financial transactions.
The central government imposed another order that when gold jewellery for more tam Rs. 2 Lakhs is purchased, PAN Card details must be provided.
A variety of activities are being initiated regarding the provision of PAN detailin different kinds of transactions.
With this new act for providing PAN card details, the IT officials expect that transactions involving black money transactions can be prevented.
The central government has initiated new process for quick issue of PAN cards for the new applicants.
Some special arrangements have set up on the internet to help fast processing of PAN cards.
The facility for digital signatures has been provided in the processing of application forms for PAN received through internet.
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