Muthoot Securities, promoted by Muthoot M. George Group, has tied up with UTI Infrastructure Technology and Service Ltd to act as Income-Tax PAN Service Centre.

The company will accept PAN card application through all Muthoot Finance branches through its representatives.

Muthoot Securities has been offering the service in the southern states and has so far issued 2,50,000 PAN cards. It has now planned to extend this service to North-East and western states.

“There is an unfounded fear in the minds of many people that once they apply for PAN card, they will be subjected to the scrutiny of Income-Tax Department. This has to be dispelled and non-PAN cardholders have to be encouraged to apply for PAN cards,’’ George Alexander Muthoot, Managing Director, Muthoot Finance, said in a release.

“We will ensure that the benefit of this arrangement reaches maximum number of beneficiaries for applying new PAN cards,” he added.

(This article was published on January 4, 2013)
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