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UTI Services take over PAN cards
New Delhi, July 01: The Income Tax department has announced that from today PAN cards will no longer be issued by the IT department. Instead the entire job has been outsourced to UTI Investor Services Limited, all in a move to professionalise the IT department.
New Delhi, July 01: The Income Tax department has announced that from today PAN cards will no longer be issued by the IT department. Instead the entire job has been outsourced to UTI Investor Services Limited, all in a move to professionalise the IT department.
The new PAN cards will be tamper proof with built in security features like a hologram and UV line. And one can now look forward to getting a PAN card within 10 to 20 days of filing an application.
But its key to note that only new applications for PAN cards will be processed by UTI. There is a cost of Rs 5 for the application form and Rs 60 for the card, the proceeds of which go straight to UTI.
It`s estimated that 50 lakh new applications for PAN cards will head UTI`s way this year. But those two lakh PAN application forms which are already pending with the IT department will be processed by the government and not UTI.
Officials say this is the first of many services that will be outsourced to reliable professionals, all in the name of hassle free treatment for the Income Tax assessee.
Bureau Report
But its key to note that only new applications for PAN cards will be processed by UTI. There is a cost of Rs 5 for the application form and Rs 60 for the card, the proceeds of which go straight to UTI.
It`s estimated that 50 lakh new applications for PAN cards will head UTI`s way this year. But those two lakh PAN application forms which are already pending with the IT department will be processed by the government and not UTI.
Officials say this is the first of many services that will be outsourced to reliable professionals, all in the name of hassle free treatment for the Income Tax assessee.
Bureau Report