Cholamandalam Distribution Services Ltd on Wednesday said it has entered into a tie-up with UTI Investor Services Ltd to process IT PAN number applications in the country.
CDSL, belonging to the Chennai-based Rs 5,200 crore (Rs 52 billion) Murugappa Group's Cholamandalam Investment and Finance Company Ltd, has launched PAN Service Centres in 33 locations, which include metros, minis metros and smaller towns, a company statement said.
Customers have been asked to collect a PAN application form (Form 49A) from these centres, fill-up the same and submit it at these centres.
CDSL will send these forms to UTI Investor Services and keep the customers informed about the status of the application, it said.
"This tie-up is an extra benefit since each of our customers has the requirement of a PAN number for some reason or the other. Thus we will be providing one stop window for all financial transactions to our customers," business head of CDSL, R Arulmany, said in the statement.
CDSL currently distributes mutual funds, fixed deposits, bonds and insurance products in 35 plus locations and its collections crossed Rs 2,500 crore (Rs 25 billion) last year.