Must know about changes in pan card rule | Financial Coach | Must watch before applying Pan card

The income tax department has changed rules for those applying for a new PAN card, allowing individual taxpayers the flexibility to furnish their mother’s name instead of that of their father’s. So far, it was mandatory to mention one’s father’s name in the application for a Permanent Account Number but now the exception has been made for those with single parents. The new PAN card application form, which will be made available from December 5, asks the applicant whether his or her mother is a single parent and if he or she wishes to apply for PAN by furnishing the mother’s name. According to a new notification issued by the Central Board of Direct Taxes, the father’s name is mandatory except where a mother is a single parent and PAN is applied forby furnishing the name of only the mother. The amendment to Income Tax Rules, 1962, will come into effect from December 5.… #FinancialCoach #cahimanshu #PanCard