JTA & ASSOCIATES, CHARTERED ACCOUNTANTS
The government will soon launch a facility under which a PAN card will be issued within 48 hours of applying.
An online facility for issuance of PAN is on the anvil under which an applicant can get a PAN card within 48 hours,
Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards.
Recently, the Central Board of Direct Taxes (CBDT), the apex policy-making body of the I-T Department, had issued a notification making the Elector's Photo Identity Card (EPIC) and Aadhaar valid proofs of "date of birth" for obtaining a PAN card.
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 jewellery valued at Rs 1 lakh or more.
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