The Finance Ministry’s latest norms on mandatory quoting of permanent account number (PAN) will not adversely impact demand for financial products such as mutual funds, time deposits, shares, bonds and debentures, say tax experts and financial sector observers.
The new norms, aimed at widening the tax base and curbing generation of domestic black money, stipulate varying thresholds beyond which any purchase of financial products and instruments would require mandatory furnishing of PAN.
