PAN applicants must provide identity proof

NEW DELHI: The Finance Ministry is putting in place checks to stop bogus quoting of permanent account numbers (PAN). New applicants will henceforth have to mandatorily furnish proof of both identity and address.
The move to obtain authentic evidence from fresh applicants for PAN comes on the back of the ministry’s decision to outsource PAN allotment to UTI Investor Services. Safeguards are in place as an outside agency like UTI Investor Services does not have assessment records for cross verification, said officials.
For an individual, proof of identity could be his school leaving certificate or a certificate from an MP, MLA, MLC or a gazetted officer. For proof of address, individuals can furnish either of these documents — passport, voter’s ID, ration card, electricity bill or a house tax bill. Companies applying for PAN will have to attach a copy of the certificate of incorporation. A copy of a partnership deed will be a sufficient evidence for firms.
PAN forms have also been condensed to two pages instead of four along with some procedural simplification. For instance, the requirement of firms to furnish addresses of branches, partners and directors has now been dispensed with. PAN forms will be supplied to UTI Investor Services which, in turn, will charge a processing fee of Rs 60 for every PAN allotment.