Journalist ( News Analyst and Web Writer ) | Posted on
Permanent Account Number also cal PAN card recently updated with 3 new rules to provide ease for the citizens. The change wil come in effect after December 5, since PAN is an important IS proof for every basic financial transaction, people should read the following changes .
1) After 5 December 2018 when you ar applying for PAN card, it will not be mandatory to quote fathers name on the application form. The rule will be applicable only if the mother of the applicant is a single parent. An option will be provided on form that will allow the applicant to explain whether the mother is a single parent and applicant wishes to furnish name of his/her mother only.
2) It will also be mandatory that any person who enters into any financial transaction of amount about or exceeding to 2.5 lakh in a financial year, shall apply for PAN on or before 31 may of the immediately following financial year
3) according to times of india report it will be easy to get PAN card in four hours, sushil Chandra cbt chairmen said that allotment of Pan card will star t within an year.
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