New rules added for PAN card application

Neighbourhood News Desk/Avi Arya: An announcement has been made about some recent rules added to the PAN card application forms. These rules are said to be effective starting from 5 December 2018.

There are the 3 new added rules:

1:- Adding the father’s name is mandatory in the PAN application form which is then printed on the PAN card. If the applicant’s mother is by chance a single parent, adding the father’s name in the forms won’t be mandatory.     

2:- It states that any resident person other than an individual, entering a financial transaction of Rs 250,000 or more in a financial year, must apply for a PAN on or before 31 May of the financial year.

3:- Tax authorities have the permission to specify formats and standards for verifying documents filed with the PAN application / intimation of Aadhaar number, to ensure capture and transmission of data. Furthermore they’re also responsible for evolving and adding appropriate security, archival and retrieval policies in relation to furnish the application forms for the allotment of permanent account number/intimation of Aadhaar number.

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