Do you have more than one PAN? Check out what are the consequences and how to correct it.
PAN (Permanent Account Number)
Information about PAN (Permanent Account Number)
The following are the various statotory obligations for the month of September 2016 :- [table id=14 /]
The Income-tax department had issued a new Circular No 11 dtd 16/01/2014 prescribing the new procedure for application and allotment of Permanent Account Numbers(PAN). The important feature of this circular was that the original documents needs to be submitted at the time of making the PAN Application. The operation of this circular has been put
The Central Board of Direct Taxes (CBDT) vide its Notification No :- S O No 3794(E) dtd. 23/12/2013 has made important changes in procedure for PAN Application & Allotment. The important changes are as follows :- 1) Apart from Proof of Identity & Proof of Address, a new document (Proof for Date of Birth) needs
Have you lost your PAN Card? Do you have mistakes in PAN Card issued? How to obtain a Duplicate/Correct one?
PAN Card is not only a document used for Income-tax purposes. It is also used as an Identity Proof for many transactions apart from being required by many statutes as a base document. Many people due to their bad luck lose their PAN Card (or) some times have their PAN Cards in a damaged condition.
Are all PAN Card holders required to file their return of income? This is the question raised by many persons who possess PAN Card. We need to understand the requirement of PAN Card first before answering this query. Who are mandatorily required to obtain PAN ? Section 139A of the Income-tax Act provides that the
The Income-tax Department vide its Notification No 58/2011 [F.NO 133/48/2011-SO(TPL)]/S.O.2468(E) DTD 29-10-2011, has notified New PAN Card Applications Form 49A & 49AA. Form 49A is applicable for Indian Citizens/Indian Companies/Entities Incorporated in India/Unincorporated Entities formed in India. Click here to download new Form 49A Form 49AA is applicable for Indian Citizens not being a Citizen
i. All existing assesses or taxpayers or persons who are required to furnish a return of income, even on behalf of others, must obtain PAN. ii. Any person carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed five lakh rupees in any previous year; iii. Any person,
It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department. It is also compulsory to quote PAN in all documents pertaining to the following financial transactions :- (a) sale or
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application. PAN enables the department to link all transactions of the “person” with the department. These transactions include tax payments,