New Delhi: The Income Tax Department issued as many as 1.96 crore new PAN cards during the quarter ending March 2018, taking the total number to over 37.9 crore, as per the official data released on Tuesday.
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 number of PAN allotment is a reflection of efforts made by the government to widen tax base.
The income tax data revealed that there were about 35.94 crore PAN alloted by end December 2017. The numbrer rose to 37.9 crore at March-end 2018.
The maximum number of PAN have 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, associate of persons; body of individuals; company; government; artificial juridical person; local authority and trust.
Updated Date: Aug 21, 2018 17:24 PM