Issuing a new Permanent Account Number (PAN) for income tax has been costlier by Rs. 1 and PAN card for income tax has become costlier by a rupee to Rs 107 instead of Rs 106 under revised changes and outside India will cost an individual or entity a total of Rs 989, four rupees more than the existing price of Rs 985.
The provisions of SBC @ 0.5 per cent under the Finance Act, 2015 are effective from November 15, 2015. Accordingly, service tax rate (for PAN) is increased from 14 per cent to 14.50 per cent.
PAN is a 10-digit unique alphanumeric number allotted by the I-T department to taxpayers and it has authorised two domestic organisations– UTIITSL and NSDL– to issue them on its behalf.
In case of the PAN card to be sent abroad, the government will charge Rs 93 as processing fee, Rs 125 as service tax and Rs 771 as the courier charges, bringing the overall cost at Re 989.