PAN to lose its validity? Aadhaar may replace PAN for individuals in future

However, the income-tax department does not have any timeframe as of now for phasing out PAN

Permanent account numbers (PAN) may be phased out in the future for individuals, but such numbers may remain there for companies.

An official said there is a possibility in the future when Aadhaar card may become the sole identity card for citizens.

However, the income-tax department does not have any time frame as of now to phase out PANs.

The Finance Bill, approved by Parliament, will make Aadhaar cards mandatory for filing income tax returns and applying for permanent account number (PAN).

Replying to a debate over the finance Bill in Parliament, Finance Minister Arun Jaitley had said it might