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There was a 300 percent jump in the number of applications for PAN that is Permanent Account Number post demonetisation, the CBDT said.
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said while there were around 2.5 lakh PAN applications per month earlier, after the Centre announced to scrap high-value currency notes in November last year, the number rose to 7.5 lakh.
He added that the department was taking a number of measures to curb black money and that steps such as no cash transaction of above Rs 2 lakh was a move in that direction.
“All these measures and demonetisation will act as solutions to curb the use and generation of black money in the country.
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