Updated By: LatestGKGS Desk
CBDT: Father's name on PAN Card is not necessary
The CBDT (Central Board of Direct Taxes) announce Father's Name is Compulsory on PAN Card
The CBDT (Central Board of Direct Taxes) through the notification cross the income tax rule this rule is applicable as because people who have a single mother they can fill the form and maintain their identity.
The applicant has the power who has single mother parent to fill their form at their own wish.
As per now furnishing father name is necessary for the applicant but now from 5 December new rules will come into effect.
By this rule mother names printed on pan cards instead of the deceased father.
The notification is also noted that pan card is a necessary financial transaction worth rs 2.5lakhs or more in the financial year to apply for a PAN Card.
Nangia Advisors LLP partner Suraj Nangia said that now the resident entities shall have to obtain PAN even if the total sales, turnover, gross receipt are not or not likely to exceed Rs 5 lakhs in a financial year.
