The government would issue new plastic permanent account number (PAN) cards from July 1. The new cards, which would have coloured photo-image and would have in built security features such as hologram and UV lines, would come at a cost of Rs 60.The IT department has also decided to outsource a part of the business process of PAN to UTI Investors Services Limited (UTIISL) which would from now on issue the new PAN cards. The new cards would be issued by UTIISL within 15 days of the application from over 500 centres across the country. The existing 2.86 crore PAN cards would continue to be valid and it would be optional for those assessees to obtain the new plastic cards. The 2 lakh applications which are pending with the IT department would also be issued the old card by the department itself but if an individual wishes he or she can go for the new card after paying Rs 60.Talking to reporters, chairman of Central Board of Direct Taxes (CBDT) P L Singh said “the I-T department is making a big departure by asking UTIISL to allot the PAN cards. Other activities like refunds are also being considered for outsourcing. If we cannot cope with the refunds, if necessary, we will outsource that also.” Singh said that CBDT was also planning to issue a “intimation slip” to tax assessees detailing the assessment and refunds made with interest. At present government pays 8.0 per cent interest on refunds if it is delayed and charges 12 per cent for late payment of tax. “The interest rates will be reviewed,” Singh said.There would be web-enabled tracking system within two months, which would enable tax payers and applicants to find out the status of their PAN cards, Singh added.
