Follow us on FB
Friday, 31 January 2014
New PAN allotment norms put on hold;old procedure to continue
Friday, 31 January 2014 by Unknown
New norms for issuance of PAN card requiring verification of
original documents have been put on hold with the Finance
Ministry on Thursday announcing that the existing procedure will
continue.
PAN is a 10-digit alphanumeric number issued in the form of a
laminated card by the Income Tax department
"The Central Board of Direct Taxes (CBDT) has decided to keep in
abeyance the decision to change the procedure for PAN allotment
till further orders. Accordingly, the operation of Circular
(concerned) issued to PAN service providers has been directed to be
put on hold till further orders," the Finance Ministry said in a
statement.
In the meantime, it added, the old procedure of PAN application
and allotment "shall continue".
The Ministry, however, did not give reasons for keeping the
proposed norms on hold.
Currently, a PAN applicant has to just submit photo copies of
documents required. The originals are not checked.
The new norms were to come into force from February 3.
Under the proposed procedure, copies of proof of identity, address
and date of birth attached with PAN application forms were to be
checked against original documents when applications were to be
submitted at PAN facilitation centres.
The original documents would be returned to applicants
immediately after verification.
PAN is a 10-digit alphanumeric number issued in the form of a
laminated card by the Income Tax department to any person or
entity applying for it or to whom the department has allotted a
number without an application.
Officials in the Income Tax department said that the cost of
obtaining a PAN card, under the proposed norms, after rounding off
has been fixed at Rs.105, including taxes.
The new procedure notified by the Income Tax department for
obtaining a PAN card, is expected to eliminate the problem of fake
and multiple cards

This post was written by: Author Name
Author description goes here. Author description goes here. Follow him on Twitter
Get Updates
Subscribe to our e-mail newsletter to receive updates.
Related Articles
Subscribe to:
Post Comments (Atom)
0 Responses to “New PAN allotment norms put on hold;old procedure to continue”
Post a Comment