Over one million PAN cards deleted by the government.

PAN card is an identifier of taxable entity for all financial transactions undertaken by one person. As per the government of India, a person is not eligible to register with more than one PAN number. The government of India traced fake PAN cards which have not been allotted to existing individuals or people who have submitted false information about them.

 

More than one million permanent account numbers have been deleted or de-activaed by the government, in a move to check of the fake identities.

 

In the current fiscal year the income tax department researched on the same and launched an operation clean money where the results came out to be that near about 1.8 million people's transactions did not appear in the line with their tax profile and they were approaced by the government.

 

There have been about 5.56 lakhs new cases. Besides this about 200 high risk persons were indentified for appropriate action.

Also, the de-activation of PANS come as a reminder that the last date to link your Pan with Adhaar is August 31 2017.

 

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