More than 243 million PAN alloted in country: IT department

More than 243 million Permanent Account Numbers (PAN) have been registered in the country till now, according to a latest data.

A senior income tax department official, quoting latest data, said a total of 243,796,693 PAN card numbers have been allotted till now across the country even as the department has enhanced capabilities of various utilities to allot more of such unique IT-issued identity to applicants.

"These numbers are growing every day," the official said.

Government last year had made quoting of PAN mandatory for all transactions, including purchase of jewellery, above Rs 2 lakh from the beginning of this year apart from certain categories of economic deals.

In a bid to popularise the usage of PAN in financial transactions, the Central Board of Direct Taxes (CBDT) had said that it is "expected to be useful in widening the tax net by non-intrusive methods.

"They (new PAN rules) are also expected to help in curbing black money and move towards a cashless economy," CBDT had said.

Government has also brought out new measures for faster registration of new PAN applications by individuals and entities by allowing a special window in the official e-business portal, for making an application and allowing digital signatures as the new facility to obtain this unique identity.

Special camps are also being organised by the IT department in rural and semi-urban areas since late last year for people to apply for new PAN.

PAN is a ten-digit alphanumeric number issued in the form of a laminated card by the IT department to any person, firm or entity.