pan number

Gear Up Taxpayers! Save Your PAN from deactivation

Income Tax - In other words, if the PAN is not linked with Aadhaar before 31st August, 2017, then the PAN shall be deactivated and subsequently returns will not be processed, which means if the same is not linked within the stipulated time then the filed return shall be treated as if the return has not been filed....

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How to Activate Your PAN If It Has Been Deactivated

Income Tax - Persons to whom PAN under new series has already been allotted shall not apply for such number again. No person who has already been allotted a PAN under the new series shall apply, obtain or possess another PAN....

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IEC to Be Abolished; GSTIN to be in Future

Income Tax - For the existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard....

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PAN Deactivation by Income Tax Department

Income Tax - The income tax department in its latest drive has started de-activating PAN of all income tax assesses who were allotted more than one PAN at anytime in the past. ...

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Updated list of Transactions in which PAN is to be quoted

Income Tax - Government mandated Quoting of PAN for cash deposit with Bank and Post Offices if it (i) exceeds Rs. 50000 during any one day; or (ii) aggregates to more than Rs. 250000 during the period 09th November, 2016 to 30th December, 2016 ...

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Mandating Aadhaar linkage to PAN cards to achieve objective of one PAN to one assessee

Income Tax - Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to maintain uniqueness of PAN. The uniqueness [&h...

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Highlights of SC Judgement on Aadhar PAN Linkage

Income Tax - Supreme Court of India in its Landmark Judgement has upheld Section 139AA of the Income Tax Act,1961 as constitutionally valid which required quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns....

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NSDL Cautions on Fake Calls for collection of PAN Fees

Income Tax - NSDL e-Gov does not make any calls for recovery / collection of amounts for issuance of PAN/processing PAN applications nor does it solicit any bank or credit / debit card details from the applicants over phone or e-mail....

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Update PAN to avoid blocking of e-filing a/c by Income Tax Dept.

Income Tax - The issue of deactivating of the e-filing accounts of the members of the ICAI by the Income Tax Department on account of the mismatch in ‘Name’/ ‘PAN No.’ / ‘Date of Birth’ in the Income Tax records and the records available with the ICAI was taken up with the Income Tax Authorities on 26th August 2016....

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Revised PAN & TAN application fees wef 01.06.2016

Income Tax - PAN Card Application Revised Fee from 01/06/2016 As per NSDL notice, the PAN Card application fees have been revised as under: 1. For dispatch of PAN card in India:- Rs. 107 (inclusive of service tax) 2. For dispatch of PAN card outside India: – Rs. 994 (inclusive of service tax) W. e. f. November 15, 2015, […]...

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Mere allotment of PAN would not make allottee a Separate Entity

Sardar Vallabhbhai Patel Education Society Vs. ITO (Gujarat High Court) - Mere allotment of PAN under section 139A of the Act would not make the allottee necessarily a separate entity for the purpose of assessment of tax. The statute recognizes certain eventualities where quite outside the requirement of payment of tax and for filing return of income, the Assessing Office...

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Clash of titans, sec 192 Vs sec 206AA

Rashtriya Ispat Nigam Ltd. Vs Addl CIT (TDS), (ITAT Visakhapatnam) - Rashtriya Ispat Nigam Ltd. v. Addl CIT (TDS), ITAT Visakhapatnam) Even if there is no PAN, if the deductor has deducted TDS as per provisions of sec 192, Section 206AA does not over-ride section 192 in terms of the requirement of “at the rates specified in the relevant provisions of the Act....

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Penalty u/s 272B cannot be imposed if there was reasonable cause of failure to quote valid PANs

ITO (TDS), Rohtak vs. The Executive Engineer(ITAT Delhi) - In the instant case, there was a reasonable cause in the assessee not mentioning the correct PANs in respect of a few deductees at the time of originally filing e-TDS quarterly statement of deduction of tax in Form No.26Q, which were in fact, not available with the assessee at the material time. ...

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Addition for Subscription to share Capital by Kolkata based companies

M/s Orchid Industries Pvt. Ltd. Vs DCIT (ITAT Mumbai) - The Hon'ble Supreme Court in the case of CIT Vs. Lovely Exports Pvt. Ltd. (supra), has held that if the share application money is received by the assessee company from alleged bogus shareholders whose names are given to the AO then the department is free to proceed to reopen their individual assess...

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S. 272B Penalty is Rs. 10000 per deductor and not per wrong PAN

Commissioner of Income Tax-TDS Vs DHTC Logistics Ltd. (Delhi High Court) - The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There were in all 30706 cases in which the PAN Number was missing or was incorrectly stated....

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How to apply PAN through SPICe Form No. INC-32

Notification 2/2017-Income-Tax - (09/03/2017) - Procedure of PAN application through Simplified Profoma for Incorporating Company Electronically (SPICe) (Form No. INC-32) of Ministry of Corporate Affairs....

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New design of PAN card with effect from January 1, 2017

Circular No. NSDL/TIN/12017/001 - (10/01/2017) - All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain changes in the existing design of the PAN Card_ Accordingly. with effect from January 1, 21:117, PAN cards are being printed as per the new design specifications approved by ITD....

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PAN applications via NSDL/UTIITSL representatives at ASK

F.No. DGIT(S)/PAN/2015-16 - (03/06/2016) - 2. Nodal Officers have been appointed at the level of PAN service providers M/s NSDL eGov and M/s UTIITSL to facilitate field formations who have to establish PAN counters in ASK Centres....

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Further enhancements in Bulk PAN transfer facility

F.No. PDGIT(S)/ADG(S)-1/ITBA-PAN Instructions/0001/2016 - (03/06/2016) - Bulk PAN transfer screen has further been enhanced and facility of selection criteria based on ITR-7 filed by PAN holder has been provided for easy transfer of PANs of Trusts to Exemption charges....

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CBDT Mechanism to Identify of Duplicate PANs

ITBA-PAN Instruction No. 3 - (24/02/2016) - As per current process, PAN holder who wants to update core field and address details of the PAN allotted to him/her can file request for update through service providers (NSDL/UTIITSL). Details received from SPs in this regard in text file format are now uploaded in the system automatically through...

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Recent Posts in "pan number"

Mere allotment of PAN would not make allottee a Separate Entity

Sardar Vallabhbhai Patel Education Society Vs. ITO (Gujarat High Court)

Mere allotment of PAN under section 139A of the Act would not make the allottee necessarily a separate entity for the purpose of assessment of tax. The statute recognizes certain eventualities where quite outside the requirement of payment of tax and for filing return of income, the Assessing Officer may allot a PAN to individual....

Read More

Gear Up Taxpayers! Save Your PAN from deactivation

In other words, if the PAN is not linked with Aadhaar before 31st August, 2017, then the PAN shall be deactivated and subsequently returns will not be processed, which means if the same is not linked within the stipulated time then the filed return shall be treated as if the return has not been filed....

Read More
Posted Under: Income Tax |

How to Activate Your PAN If It Has Been Deactivated

Persons to whom PAN under new series has already been allotted shall not apply for such number again. No person who has already been allotted a PAN under the new series shall apply, obtain or possess another PAN....

Read More
Posted Under: Income Tax |

Mandating Aadhaar linkage to PAN cards to achieve objective of one PAN to one assessee

Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to maintain uniqueness of PAN. The uniqueness [&h...

Read More
Posted Under: Income Tax |

IEC to Be Abolished; GSTIN to be in Future

For the existing IEC holders, necessary changes in the system are being carried out by DGFT so that their PAN becomes their IEC. DGFT system will undertake this migration and the existing IEC holders are not required to undertake any additional exercise in this regard....

Read More
Posted Under: Income Tax |

Highlights of SC Judgement on Aadhar PAN Linkage

Supreme Court of India in its Landmark Judgement has upheld Section 139AA of the Income Tax Act,1961 as constitutionally valid which required quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns....

Read More
Posted Under: Income Tax |

How to apply PAN through SPICe Form No. INC-32

Notification 2/2017-Income-Tax (09/03/2017)

Procedure of PAN application through Simplified Profoma for Incorporating Company Electronically (SPICe) (Form No. INC-32) of Ministry of Corporate Affairs....

Read More

PAN Deactivation by Income Tax Department

The income tax department in its latest drive has started de-activating PAN of all income tax assesses who were allotted more than one PAN at anytime in the past. ...

Read More
Posted Under: Income Tax | ,

New design of PAN card with effect from January 1, 2017

Circular No. NSDL/TIN/12017/001 (10/01/2017)

All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain changes in the existing design of the PAN Card_ Accordingly. with effect from January 1, 21:117, PAN cards are being printed as per the new design specifications approved by ITD....

Read More

Updated list of Transactions in which PAN is to be quoted

Government mandated Quoting of PAN for cash deposit with Bank and Post Offices if it (i) exceeds Rs. 50000 during any one day; or (ii) aggregates to more than Rs. 250000 during the period 09th November, 2016 to 30th December, 2016 ...

Read More
Posted Under: Income Tax |
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