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300% rise in PAN applications post demonetisation: CBDT

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CBDT chairman said after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh

There was a 300 per cent jump in the number of applications for (Permanent Account Number) post demonetisation, theĀ 

Central Board of Direct Taxes (CBDT) said on Tuesday.


Chairman Sushil Chandra said while there were around 2.5 lakh applications per month earlier, after the Centre announced to scrap high value currency notes in November last year, the number rose to 7.5 lakh.


He added that the department was taking a number of measures to curb black money and that steps such as no cash transaction of above Rs 2 lakh was a move in that direction.


“All these measures and will act as solutions to curb the use and generation of black money in the country,” the chief said


“More and more people applying for means they want to keep their businesses and financial transactions clean,” the chief added.


is a 10-digit alphanumeric number, which is alloted by the Income Tax (IT) department to an individual, firm or entity. About 33 crore cards have been issued in the country till now.


The is the policy-making body of the I-T department.

First Published: Tue, November 14 2017. 21:02 IST

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