« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  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.