Tax dept allots 1.96 crore PAN in Jan-Mar 2018 qtr

The Income Tax Department issued as many as 1.96 crores new PAN cards during the quarter ending March 2018, taking the total number to over 37.9 crores, as per the official data released today.

Permanent Account Number (PAN) is a 10-digit alphanumeric identifier, issued by the department to each assessee, who may be individual, firm, and company. It is required for paying tax and filing return.

Increase in a number of PAN allotment is a reflection of efforts made by the government to widen the tax base.

The income tax data revealed that there was about 35.94 crore PAN allowed by end December 2017. The number rose to 37.9 crores at March-end 2018.

The maximum number of PAN has been to issued individuals (97.46 percent), followed by firms (1.08 percent) and Hindu Undivided Family (0.51 percent).

The other categories who have been allotted PAN include, an associate of persons; the body of individuals; company; government; artificial juridical person; local authority and trust.

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