Minister of State for Finance Shri S.S. Palanimanicham affirmed in the Lok Sabha that the income tax department has issued revised guidelines for allotment of Permanent Account Number (PAN) to Indians living abroad, foreign citizen or a company, trust or firm not having an office in India. The requirement of having a representative assessee in India by a non-resident for allotment of PAN has been dispensed with. Further, the procedure for allotment of PAN to non-residents has been streamlined. It is not possible to estimate the increase in allotment of PAN to non-residents that can be attributed to the issue of revised guidelines. Separate details of tax collections from non-residents are not being maintained.

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Category : Income Tax (28541)
Type : News (14081)

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