Wednesday, 13 April 2011

New Biometric PAN Card to tax payers

The Finance Ministry is planning to introduce new biometric Pan (Permanent Account Number) Card to tax payers. This movement is for avoiding duplicate and fake cards and also to ensure that the single taxpayer is not issued multiple Pan Cards.

Permanent Account Number (PAN) is a unique 10 digit number which consist of alphabets and numerical digits for each income tax assessee and it is illegal that a person holds more than one PAN.

This biometric Pan will avoid such circumstances to hold more than one PAN and PAN Card. The new biometric pan card will have two finger prints from each hand and the face of the holder of the card.

It may not mandatory to have new biometric card for the existing PAN card holders. The new card will help to prevent the misuse of PAN Card.

This is a good movement and the tax payers can assure that their identity is not being misused and also good for the Income Tax Department to ensure that there is no duplication and fake use of PAN number and PAN Card.

Related Posts
Investors can get more from Mutual Fund through Fixed Maturity Plan
Fixed Maturity Plans (FMP) is a type of Mutual Fund. But in Fixed Maturity Plans the pooled money of investors invest in debt products and most of the time the maturity of the debt product will be same as the … Continue reading ?

 
Canara HSBC Life Insurance Company acquired in the top ten list
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited is a joint venture of Canara Bank, HSBC Insurance (Asia Pacific) Holdings Limited and Oriental Bank of Commerce. The Company is launched around two years back and now it got … Continue reading ?

 
TDS from Premature Withdrawals of Provident Fund
Withdrawal of Provident Fund may attract Income Tax. The Income Tax Department recently told EPFO (Employees Provident Fund Organisation) to deduct Tax (TDS) from the withdrawal amount, if the withdrawal happened before completing five years of subscription. At present Provident … Continue reading ?

 
File Your Income Tax Return Online, Free of Cost
Are you aware that you can file your income tax return online and free of cost? This is not only for salary class tax payers; it is open for all kind of tax payers.  All Tax payers can submit their … Continue reading ?

2 comments :

  1. I’m extremely impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? either way keep up the nice capability writing, it is rare to see a great blog like this one today.

    ReplyDelete
  2. Thank you for your compliment. The theme is a wordpress theme and it is free. But I have customised a little bit.

    Thanks

    ReplyDelete