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PAN Card to be issue within 48 hours of applying

The government will soon launch a facility under which a PAN card will be issued within 48 hours of appyling.
"An online facility for issuance of PAN is on the anvil under which an applicant can get a PAN Card within 48 hours", a senior official said. Besides, special camps will be organized throughout the country, including rural areas, to help people get PAN Cards. New PAN Card to cost of Rs. 105 PAN (Permanent Account Number) 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 Deparment had issued a notification making the Elector's Photo Identity Card (EPIC) and Aadhar valid proofs of the "date of birth" for obtaining a PAN Card. PAN is requried for filing for return of Income, 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 lac or more. The official further said a Total of 4.73 Crore tax returns were filed in 2014-15 of which only 6 lacs were scrutinitsed by the Income Tax Department.

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