The Income Tax department has saluted the woman power by allowing the printing of mother's name on pan card optional for individual. CBDT has released notification 82/2018 dated 19/11/2018 vide which two major changes has been done in rule 114 of the income tax rules.
Change relate to Mother's Name in PAN card
- In case of Single mothers no need to provide father name in pan card and mother name will be printed on the PAN card of the individual.
- In other cases( non single mother case) ,you have to provide father name mandatory but optionally you may add mother's name . Further an option is provided to individual to choose from mother or father name ,which is to be printed on PAN card
This is welcome step and long awaited and gives due recognition of mothers as they have equally important.
The related change has been shown in the picture given below
Change related to mandatory PAN application
Second change is that now in two more circumstances ,you have to apply for pan card compulsory in addition to earlier four conditions
At present pan card is mandatory to be applied in following four cases
- (i) in a case where the total income of the person or the total income of any other person in respect of which he is assessable under the Act during any [financial year] exceeds the maximum amount which is not chargeable to income-tax and he has not been allotted any permanent account number, on or before the 31st day of May of the assessment year for which such income is assessable;
- (ii) in the case of a person not falling under clause (i), but carrying on any business [or profession], the total sales, turnover or gross receipts of which are or is likely to exceed [five lakh rupees] in any [financial year] and who has not been allotted any permanent account number, before the end of that [financial year];]
- [(iii) in the case of a person who is required to furnish a return of income under sub-section (4A) of section 139 and who has not been allotted any permanent account number, before the end of the [financial year];]
- [(iv) in the case of a person who is entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVII-B in any financial year, before the end of such financial year.]
Now two more condition has been added ,where person must have to apply for pan card
- (v) in the case of a person, being a resident, other than an individual, which enters into a financial transaction of an amount aggregating to two lakh fifty thousand rupees or more in a financial year and which has not been allotted any permanent account number, on or before the 31st day of May immediately following such financial year;
- (vi) in the case of a person, who is the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in clause (v) or any person competent to act on behalf of the person referred to in clause (v) and who has not been allotted any permanent account number, on or before the 31st day of May immediately following the financial year in which the person referred to in clause (v) enters into financial transaction specified therein.”;