(a) whether the Government have made it mandatory to mention Permanent
Account Number at the time of financial deals
of certain limits;
(b) if so, the details thereof;
(c) whether the P.A.N. has been allotted to all the applicants till date;
(d) if not, the reasons therefor;
(e) the number of applications pending with Income Tax Department till date;
and
(f) the time by which the P.A.N. will be allotted to all the applicants?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
SHRI DHANANJAY KUMAR
(a)&(b):
Quoting of PAN has been made mandatory for following transactions:
i) aplication for opening an account with a Bank.
ii) application for installation of a telephone connection (including a
cellular telephone)
iii) documents pertaining to sale or purchase of a motor vehicle;
iv) documents pertaining to sale or purchase of immovable property valued at
Rs.5 lakhs or more;
v) documents pertaining to a time deposit exceeding Rs.50,000/- with a Bank;
vi) documents pertaining to deposits exceeding Rs.50,000/- in any account
with a Post Office Savings Bank;
vii) documents pertaining to a contract of a value exceeding Rs.10 lakhs for
sale or purchase of securities (shares, debentures etc.)
viii) payment to hotels & restaurants against their bills for an amount
exceeding Rs.25,000/- at any one time.
Part (c) to (f):
As against 1,86,41,245 applications for allotment of Permanent Account
Number (PAN) received upto 31.01.2000, 1,67,67,937 applications have been
processed and 1,54,37,157 PAN allotted upto 31.01.2000. The delay in
allotment of PAN to the remaining applicants is mainly due to incomplete
information given in the application forms submitted by the applicants.
This necessitates issue of deficiency letters. In all such cases, further
processing can be done only after deficiencies are removed by the tax
payers. Moreover, a large number of applications have been received in the
recent months, which are being processed for allotment of PAN. The work of
allotment of Permanent Account Numbers is in full swing and all out efforts
are being made for expeditious allotment of PAN to the applicants. Wide
publicity is also being given on the subject by the Department requesting
the applicants to reply to the deficiency letters sent to them by the
Department.