« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately «  Tax refunds likely to be faster, returns filing may turn... Revenue dept considers amendments in I-T Act... » PAN relief soon for MF investors January, 25th 2007 The Association of Mutual Funds in India (Amfi) and CDSL Ventures (CVL) are working on a finance ministry proposal to make use of the permanent account number (PAN) as the mutual fund identification number (MIN). The MIN is mandatory for investments above Rs 50,000.    The ministry is learned to have written to the Securities and Exchange Board of India (Sebi) and Amfi over the issue, as the latter is facing criticism from a section of investors and distributors for introducing the investor identification norms in a hurried manner.    CVL is making changes in the MIN allotment procedure and is likely to do away with scanning of certified documents at the point of service (Pos) centres. Now, it plans to scan documents at its centralised data centre instead of the PoS. The change is expected to speed up the procedure.    The ministry has advised whether the PAN could be used as a code number for issuing the MIN. We are exploring possibilities of its implementation," Amfi chairman A P Kurian said.    CVL chief executive officer Cyrus Khambata said : "The proposal means the MIN would feature the PAN number and those who don't have a PAN would be allotted new numbers."    However, investors have to submit identity proofs and income details.    Meanwhile, distributors are facing issues in the MIN allotment. Following the huge number of applications received, it's taking more than a week to get the number," said a top distributor.