The government has been in discussions to turn the Permanent
Account Number (PAN) into the enterprise unique ID, a feature which was
announced by finance minister Arun Jaitley while presenting the Union
Budget.
Though the idea was first mooted a couple of years ago, the recent discussions suggest that among the plethora of IDs which are held by enterprises, making PAN the unique ID will be the most conducive option.
This will mean that even the non-tax paying entities such as not -for profits, trusts or societies will have to now apply for a PAN number. It has also been suggested that this PAN number or the unique identity can be linked with the Aadhaar number at the backend.
A government official said that the Centre has been mulling this move for around two years now. "The whole idea is if all are asked to furnish a PAN number regardless of whether they are income tax payees or not, and the Aadhaar number is being asked for people who are behind that entity, then this PAN number can be the unifying factor."
Though the idea was first mooted a couple of years ago, the recent discussions suggest that among the plethora of IDs which are held by enterprises, making PAN the unique ID will be the most conducive option.
This will mean that even the non-tax paying entities such as not -for profits, trusts or societies will have to now apply for a PAN number. It has also been suggested that this PAN number or the unique identity can be linked with the Aadhaar number at the backend.
A government official said that the Centre has been mulling this move for around two years now. "The whole idea is if all are asked to furnish a PAN number regardless of whether they are income tax payees or not, and the Aadhaar number is being asked for people who are behind that entity, then this PAN number can be the unifying factor."
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