PAN card to be issued within 48 hours of applying
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The government will soon launch an online facility under which a PAN card will be issued within 48 hours of applying. Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards. Permanent Account Number (PAN) is a 10-digit alpha numeric number, issued in the form of a laminated card by the Income Tax Department.
PAN is required for filing 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 jewelry valued at Rs 1 lakh or more.
PAN is required for filing 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 jewelry valued at Rs 1 lakh or more.
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