INSUBCONTINENT EXCLUSIVE:
The new rules will become applicable from December 5.The Income Tax Department on Tuesday announced certain changes to the application form
amended the income tax rules and said that quoting of father's name in Permanent Account Number (PAN) application forms would not be
mandatory in certain cases, according to news agency Press Trust of India
Quoting of a PAN, which is an identification number assigned to income tax assessees in the country, is required for financial transactions
such as opening of a bank account and filing of income tax returns (ITR)
The amended rules provide that furnishing of father's name will not be mandatory for a person whose mother is a single parent
The new rules will become applicable from December 5, the agency reported citing a CBDT notification.1
The Income Tax Department said that the application forms from December 5 would give an option to the applicant as to whether mother is a
seeking relaxation in the rules regarding father's name in the PAN application.3
At present, furnishing of father's name is mandatory for the allotment of PAN.5
Besides this, the IT rules for specifying the time-line for making an application for allotment of PAN by certain persons and issuance of
PAN has also been amended
The application has to be filed on or before May 31 of the assessment year for which such income is assessable.
