The Income Tax department on Tuesday said it has issued Permanent Account Number (PAN) within a day to 19,704 newly incorporated companies till March 31, 2017. In addition to physical PAN card, CBDT has introduced the Electronic PAN (e-PAN) card, which is sent by email to all applicants, including individuals.
“Applicant would be benefited by having a digitally signed E-PAN card which they can submit as proof of identity to other agency electronically directly or by storing in the Digital locker (https://digilocker.Gov.In),” CBDT, the apex policy making body of the Income Tax department, said in a statement.
It said that newly incorporated companies have also been issued Tax Deduction Account Number (TAN) simultaneously with PAN as the Central Board of Direct Taxes (CBDT) has tied up with the Ministry of Corporate Affairs (MCA) under which companies can submit a common application form.