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PAN to replace MIN for transactions over 50,000

March 1, 2007 - 5:34pm — Hemanshu

After making over 2,00,000 people register for the Mutual fund Investor Number [MIN], the government turns around and states that MIN shall be replaced by PAN for all transactions over 50,000 Rupees.

The rationale being dished out is that the PAN number is to become single point of identification for all individuals. This is retarded, considering that the MIN number was to come into effect next month and the bill for the same was passed this January.

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