Income Tax Dept releases Latest PAN Allotment and Aadhar Linking Statistics

PAN Allotment in India Sees Steady Rise: Over 74 Crore PAN Cards Issued by March 2024
Income Tax - Income Tax department - Income Tax Dept releases Latest PAN Allotment - PAN Allotment - TAXSCAN

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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