Entities to apply for Permanent Account Number in certain cases

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..... Entities to apply for Permanent Account Number in certain cases
Budget
Dated:- 5-2-2018

B. WIDENING AND DEEPENING OF TAX BASE Entities to apply for Permanent Account Number in certain .....

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..... cases Section 139A inter-alia provides that every person specified therein and who has not been allotted a permanent account number shall apply to the Assessing Officer for allotment of a Permanent A .....

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..... ccount Number (PAN). In order to use PAN as Unique Entity Number (UEN) for non-individual entities, it is proposed that every person, not being an individual, which enters into a financial transactio .....

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..... n of an amount aggregating to two lakh and fifty thousand rupees or more in a financial year shall be required to apply to the Assessing Officer for allotment of PAN. In order to link the financial t .....

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..... ransactions with the natural persons, it is also proposed that the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer or .....

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..... any person competent to act on behalf of such entities shall also apply to the Assessing Officer for allotment of PAN. This amendment will take effect from lst April, 2018. [Clause 42]
News - P .....

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..... ress release - PIB .....

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