Banking services chronicle releases the
magazine every month for the candidates who are preparing for bank
examinations. One of the articles which are published in banking serviceschronicle magazine is here which says AUTO PAN GENERATION in page number 17
of November 2019.
The
income tax department will automatically issue permanent account number to a
taxpayer using aadhaar number for filing returns as part of a new arrangement
to link the two databases. According to a notification issue by the CBDT on aug
30, a person who furnishes aadhaar, as they do not have PAN, shall be deemed to
have applied for allotment of PAN and they will not be required to apply or
submit any more documents. The rules has come into effect from step 1.
The
notification said the tax department would get the demographic information of
an individual from the unique identification authority of india for allotment
of PAN, a ten – digit alphanumeric identifier issued by it.
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