« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  Taxman likely to get teeth to hound evader’s property ... SC riders on tax rebate for foreign institutes ... » CBDT clarifies on issuance of PAN to FIIs May, 27th 2008 The Central Board of Direct Taxes (CBDT) on Friday clarified that there is no truth in media reports which said one of the reasons for the decline in FII investments is the alleged delay in issue of permanent account number (PAN) or PAN cards to FIIs by the income tax department. The allotment and issue of PAN cards is carried out by the Income Tax department in partnership with UTITSL and NSDL. During 2007-08, UTITSL received 100 applications from FIIs for new PAN cards and all these were issued within 15 days. The average time taken was 15 days. As on 31.3.2008, there were no pending applications for new PAN cards, said CBDT. According to the board, during the same period, NSDL received 558 applications from FIIs for new PAN cards, out of which 81% were issued within 15 days and 13% were issued between 16 to 30 days.