Now, mentioning father’s name not mandatory in PAN application from Dec 5
New Delhi, Nov 21: The income tax department Tuesday said quoting of father's name in PAN application forms will not be mandatory in cases where mother of the applicant is a single parent.
The income tax rules were amended by the Central Board of Direct Taxes (CBDT) through a notification, which said the application forms would give an option to the applicant as to whether mother is a single parent and if the applicant wishes to furnish the name of mother only.
As per the current rule, it is mandatory to furnish the father's name for the allotment of Permanent Account Number (PAN). The new rules would come into effect from December 5.
The notification has also made it mandatory for entities that have made financial transactions worth Rs 2.5 lakh or more in a financial year to apply for a PAN card.
The application has to be filed on or before May 31 of the assessment year for which such income is assessable.
(with PTI inputs)