Financial Daily from THE HINDU group of publications
Sunday, Dec 12, 2004
Financial Daily from THE HINDU group of publications Sunday, Dec 12, 2004 |
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Income Tax Government - Policy PAN mandatory in tax challans from Jan 1 Our Bureau
New Delhi , Dec. 11 QUOTING Permanent Account Number (PAN) and Tax deduction Account Number (TAN) on income-tax challans will be mandatory from January 1, the Government has said. The move is aimed at ensuring correct and prompt credit of taxes to taxpayers, an official release said. Accordingly, from January 1, banks would not receive tax payments unless the challan carries the PAN of the taxpayer or TAN of the deductor. . The Income Tax Department has also introduced the Tatkal Service for allotment of PAN, for which applications can be filed on the Internet and service charges paid through credit cards. With the introduction of facilities for applying through UTI Investors Ltd and NSDL, the average time for PAN allotment has come down to about 15 working days.
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