Wednesday, June 26, 2013

Getting a PAN is  tough :  govt. plans more stringent verification :


Getting a Permanent Account Number (PAN) is going to get a bit tougher, with the income-tax (I-T) department gearing up to make the verification process more stringent, after some cases of fraud came to its notice. Ration cards and rent receipts might no longer be accepted as proofs of identity and address. The tax department might also ask for proof of date of birth for issuing a PAN card. Instead of a rent receipt, a rent agreement along with proof of address of the owner would be accepted. Aadhaar number, gas connection documents, and a certificate issued by the employer in a prescribed format would be accepted as identity/address proof after changes to the income tax rules are made shortly.The proposed move comes after the Economic Offences Wing found some foreign nationals, particularly from Afghanistan, were using fake PAN cards as proof of identity. In most of these cases, a fake certificate of identity and address signed by a Member of Parliament (MP) was issued. //http://www.business-standard.com//

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