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 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 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 per cent), followed by firms (1.08 per cent) and Hindu Undivided Family (0.51 per cent).
The other categories who have been allotted PAN include, associate of persons; body of individuals; company; government; artificial juridical person; local authority and trust.>