Extent of usage of PAN (Permanent Account Number) Cards!
Posted on: 18/Jun/2014 2:34:12 PM
Parthasarathy Shome Committee has strongly recommended that PAN Cards must be used for multiple tasks. The committee recommends that the PAN card must be used as a commercial number.
The committee recommends that PAN card usage must be extended to other government applied services.
The committee has insisted on keeping and sending records on TDS (Tax Deducted at Source) to the PAN Card Holder, refund the excess tax collected within a fixed time period, etc.
The committee has recommended to make a separate entity for all Income Tax Payers.
This committee was formed to recommend methods to improve the current Income Tax related systems and their functioning.
