New Delhi, July 01: New plastic Permanent Account Number (PAN) cards will be issued to Income Tax assessees from today, the Central Board of Direct Taxes chairman P L Singh said today. The cards costing rs 60 will be issued by UTI Investors Services Ltd within 15 days of the application from over 500 centres across the country.
The existing 2.86 crore PAN cards would continue to be valid and it would be optional for those assessees to obtain the new plastic cards.
The Income Tax Department, for the first time, has decided to outsource one of its non-core activity, Singh said, adding that other activities like tax refunds might be outsourced if the department is not able to cope with its target of issuing them within four months from this year.
Bureau Report