New Rules for Pan Card
New Rules for Pan Card
PAN is an importantly used for Financial processing & other government works as identity proof. For this PAN cards there will be some changes are made. Regarding the changes in this income tax department released an notification of new rules for PAN cards. These new rules will get effective from 5th December 2018. There should be some major changes in the PAN card as appeal by the applicants. By this there are some major changes down by the Income Tax department. These major changes about the PAN card will be benefits for car-case & to control black money. Some of changes are as listed below : –
New Rules for Pan Card
- There will not be Father name mention on PAN card, before this on PAN cards there is necessary to mention Father’s name
- There will be necessary to have PAN cards for over 5 lakh business processing.
- It is necessary to have PAN card for over 2.5 lakh business. For this applicants need to apply before 31st May 2019.
- For Single Parent applicants have facility that they can mention their mother name on PAN card
- Also PAN card is necessary for small companies through they have less than 5 lakh income.