The Income Tax Department of India has released the latest PAN allotment statistics, revealing a significant rise in PAN card issuance. As of March 31, 2024, a staggering 74.67 crore PAN cards have been issued across the country.
Individual Domination
The report highlights that individuals continue to be the primary holders of PAN cards, accounting for a whopping 97.97% of the total issued cards. This translates to roughly 73.16 crore PAN cards held by individual taxpayers in India.
Breakdown of PAN Allotment by Taxpayer Status
The data also provides a breakdown of PAN allotment by taxpayer status.
Here is a glimpse into how PAN cards are distributed among various taxpayer categories:
Individuals: 73,15,35,086 (97.97%)
Companies: 25,49,584 (0.35%)
Firms: 61,60,447 (0.83%)
Hindu Undivided Family (HUF): 23,84,088 (0.32%)
Trusts: 12,31,270 (0.17%)
Association of Persons (AOP): 24,35,985 (0.33%)
Body of Individuals (BOI): 1,62,377 (0.03%)
Local Authority: 1,36,443 (0.02%)
Government: 81,958 (0.02%)
Artificial Juridical Person: 43,165 (0.01%)
Aadhaar Linkage Gains Traction
The increasing importance of Aadhaar for various financial transactions is reflected in the rising number of PAN-Aadhaar linkages. By March 2024, a total of 60.52 crore PAN cards have been successfully linked with Aadhaar, indicating a growing awareness of the benefits associated with linking these two identity documents.
The dominance of individual PAN card holders suggests a growing tax base, while the rise in Aadhaar linkage signifies a move towards greater financial transparency and integration.
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