PAN card to be issued within 48 hours of applying

New Delhi: 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," a senior official said.

Besides, special camps will be organised throughout the country, including rural areas, to help people get PAN cards.

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.

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 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.

The official further said a total 4.73 crore tax returns were filed in 2014-15, of which only 6 lakh were scrutinised by the Income-Tax Department.

SOURCE