The new measures aim to reduce the number of fake PAN cards or multiple PAN cards obtained by companies and individuals, verify personal and proprietary data, stop forging details to evade taxes, reports Nair & Co.’s International Compliance Team
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India Issues New Requirements for Permanent Account Numbers (PAN)
1. India Issues New Requirements for Permanent Account Numbers (PAN)
(Bristol, UK) - New procedure issued by the Central Board of Direct Taxes (CBDT) for obtaining PAN card
will soon enter into force in India. The new measures aim to reduce the number of fake PAN cards or
multiple PAN cards obtained by companies and individuals, verify personal and proprietary data, stop
forging details to evade taxes, reports Nair & Co.’s International Compliance Team.
While applying for a PAN card, it would soon become mandatory for the applicant to also submit original
documents i.e. proof of identity (POI), proof of address (POA) and date of birth (DOB), at the counter of
PAN facilitation centres along with self-attested copies of the same. However, original documents would
be returned after on-the-spot verification.
PAN is a 10-digit alphanumeric number which is assigned to tax payers in India by the Indian Income Tax
(I-T) Department under the supervision of the Central Board for Direct Taxes (CBDT).
Further, foreign applicants may face trouble while obtaining PAN cards due to the new process issued by
the I-T department.
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Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax
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