26 Nov
2011
26 Nov
'11
6:36 a.m.
On 26 November 2011 11:49, Shamit Verma subs.linux.mum@vshamit.com wrote:
Yes, improvement is the assurance that one person would not be not be issued multiple cards.
http://www.moneycontrol.com/news/business/pan-scam-i_292341.html
I forgot to mention this. The need for multiple PAN is usually only to apply for and obtain, multiple demat accounts. The reason for this is the archaic rule that people who invest more than Rs. 2L in a single scrip is no longer a retail investor and hence would be treated differently (usually to the detriment of the investor). If the law had kept up with the rising income levels of the country, you would have eliminated the problem itself rather than having to invent a solution.
Binand