PAN

Permanent Account Number (PAN)

Income Tax - In this article we have covered Meaning of Permanent Account Number (PAN), Its Utility,Procedure to Obtain PAN, Transaction in Which PAN is Mandatory,How to correct any mistake in PAN card or intimate any change in data pertaining to PAN...

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Reprint of PAN Card – Revised Guidelines, Instructions, Procedure

Income Tax - This application should be used when PAN has already been allotted to the applicant but applicant requires a PAN card. A new PAN card bearing the same PAN is issued to applicant. While filling this form, applicant should not select any of the check boxes on the left margin of the form. However, the check box for Item no. 7. Address for co...

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All about Permanent Account Number (PAN) and how it is structured

Income Tax - Permanent Account Number is basically a method of identifying a taxpayer on the computer system through a unique All-India number so that all information relating to that taxpayer, e.g. taxes paid, refunds issued, outstanding arrears, income disclose...

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Income Tax on Non Resident Indians (NRI)

Income Tax - Many Individuals from India have settled abroad. Moving to another country does not necessarily mean Good-Bye to the Home Country India. Many NRIs have invested in India in the form of Purchase of Mutual Funds, Life Insurance Policies, Shares, Securities, ancestral land/property, Unit Linked Insurance Plans (ULIPs), FCNR Fixed Deposit, ho...

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Now Instant PAN Card through Aadhar Only 5 to 10 Minutes

Income Tax - Now Instant PAN Card through Aadhar in Only 5 to 10 Minutes Step 1: Go to your browser and type https://www.incometaxindiaefiling.gov.in/ Step 2: Go to Quick Links section and click on Instant PAN through Aadhaar Link and next screen open Step No 3. Click on Get New PAN Step No 4.  Then following screen should […]...

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PAN-Aadhaar Linking Possible after 31st March 2020

Income Tax - According to the income tax department, PAN and aadhaar linking is possible even after 31st March 2020. Though there’s a twist here, this linking is possible on condition that the PAN will remain inoperative post the deadline till the date they link the 2 cards. New notification The central board of direct tax has issued a new notifi...

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10 Basic Legal & Regulatory Registrations for Every Business in India

Income Tax - Are you all set to dive right into your Start-up? Or are you already running a successful business but still not, sure if you have obtained all regulatory registrations? Here is a list of 10 essentials business registrations that your business will need to keep your legal and regulatory compliance on point! 1. PAN (Permanent […]...

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PAN cards now printed with Enhanced Quick Response Code

Income Tax - ATTENTION PAN CARD APPLICANTS PAN cards are now being printed with Enhanced Quick Response (QR) Code. Features of new PAN Card design: 1. Enhanced QR Code will contain Photograph & Signature of PAN applicant apart from existing information i.e., PAN, Name, Father’s Name/Mother’s Name, Date of Birth/Incorporation/ Formation. The af...

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Interchangeability of PAN and Aadhaar to file tax return proposed

Income Tax - Lower rate of 25 % Corporate Tax extended to companies with Annual Turnover up to  Rs. 400 crore from earlier cap of upto Rs 250 crore  Interchangeability of PAN and Aadhaar to file tax return proposed 2 % TDS on cash withdrawal exceeding Rs. 1 crore in a year from a bank account to encourage […]...

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Declare PAN /Aadhaar while paying membership fees/applying Fellowship: ICSI

Income Tax - Members would henceforth be required to declare their PAN (mandatory) and Aadhaar / UID Number (optional) at the time of making online payment of annual membership fees and while applying for Fellow membership of the Institute in Form-B....

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Non-Availability of PAN of Deductee is not valid excuse for not filing TDS Return

Mahanadi Coal Fields Ltd. Vs JCIT (TDS) (ITAT Cuttack) - The assessee cannot escape himself for non-filing quarterly TDS merely stating that the PAN of the employees are not available. The penalty is provided in the Income Tax provisions u/s.272A(2)(k) of the Act is mandatory in nature except in case of reasonable cause proved by the assessee, which is la...

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AO justified in sending notice at address mentioned in PAN database

PCIT Vs. M/s I­-Ven Interactive Limited (Supreme Court) - Mere mentioning of the new address in the return of income without specifically intimating the Assessing Officer with respect to change of address and without getting the PAN database changed, is not enough and sufficient....

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Linkage of PAN with Aadhar is mandatory from AY 2019-20 : SC

Union Of India & Ors. Vs Shreya Sen & Anr. (Supreme Court of India) - Thereafter, this Court has decided the matter and upheld the vires of section 139AA of the Income Tax Act. In view thereof, linkage of PAN with Aadhar is mandatory....

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Notice issued in the name of a dead person is unenforceable despite non-intimation of death

Alamelu Veerappan Vs ITO (Madras High Court) - Alamelu Veerappan Vs ITO (Madras High Court) Admittedly, the limitation period for issuance of notice for reopening expired on 31.3.2017. The impugned notice was issued on 30.3.2017 in the name of the dead person. On being intimated about the death, the Department sent the notice to the petitioner &...

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No penalty for entering PAN instead of TAN in TDS Challan on account of bona-fide mistake

ITOr Vs M/s Umatech (ITAT Lucknow) - Necessary TDS was deducted and it was deposited in the Government Treasury. All these are on record and only there is a technical error that in the challan PAN number of the assessee is mentioned instead of TAN in the relevant column on account of bona-fide mistake, for which assessee should not be ...

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FM launches Instant PAN facility through Aadhaar based e-KYC

(Release ID: 1627434) - (28/05/2020) - FM formally launched the facility for instant allotment of PAN (on near to real time basis) here today. This facility is now available for those PAN applicants who possess a valid Aadhaar number and have a mobile number registered with Aadhaar. The allotment process is paperless and an electronic PA...

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Rule 114AAA: PAN to become inoperative on failure to furnish Aadhaar

Notification No. 11/2020-Income Tax [G.S.R. 112(E)] - (13/02/2020) - CBDT notifies rules regarding manner of making PAN inoperative u/s 139AA(2) – Notification No. 11/2020, dated 13-02-2020 CBDT notifies Income Tax Rule 114AAA prescribing  that permanent account number (PAN) will become inoperative if  a person, who has been allotted PAN as on the 1st day of Jul...

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Procedure of PAN allotment through Common Application Form

Notification 11/2020- Income Tax (DGIT Systems) - (07/02/2020) - Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPIs) with SEBI under Department of Economic Affairs and KYC for opening Bank and Demat Account....

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Due date for linking of PAN with Aadhaar extended to 31st March 2020

Notification No. 107/2019-Income Tax [S.O.4708(E)] - (30/12/2019) - The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-tax Act,1961 has been extended from 31st December, 2019 to 31st March, 2020 vide Notification No. 107/2019 dated 30th December, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOAR...

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Aadhaar allowed to be used instead of PAN in Income-tax Forms

Notification No. 95/2019-Income Tax [G.S.R .825(E)] - (06/11/2019) - CBDT has notified vide Notification No. 95/2019 that in various income-tax forms and Rules the word ‘Permanent Account No.’ or ‘PAN’ is to be substituted by the words ‘Permanent Account Number or Aadhaar Number’. Changes has made it possible for A person, not havi...

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Recent Posts in "PAN"

FM launches Instant PAN facility through Aadhaar based e-KYC

(Release ID: 1627434) (28/05/2020)

FM formally launched the facility for instant allotment of PAN (on near to real time basis) here today. This facility is now available for those PAN applicants who possess a valid Aadhaar number and have a mobile number registered with Aadhaar. The allotment process is paperless and an electronic PAN (e-PAN) is issued to the applicants fr...

Read More

Permanent Account Number (PAN)

In this article we have covered Meaning of Permanent Account Number (PAN), Its Utility,Procedure to Obtain PAN, Transaction in Which PAN is Mandatory,How to correct any mistake in PAN card or intimate any change in data pertaining to PAN...

Read More
Posted Under: Income Tax | ,

Reprint of PAN Card – Revised Guidelines, Instructions, Procedure

This application should be used when PAN has already been allotted to the applicant but applicant requires a PAN card. A new PAN card bearing the same PAN is issued to applicant. While filling this form, applicant should not select any of the check boxes on the left margin of the form. However, the check box for Item no. 7. Address for co...

Read More
Posted Under: Income Tax |

All about Permanent Account Number (PAN) and how it is structured

Permanent Account Number is basically a method of identifying a taxpayer on the computer system through a unique All-India number so that all information relating to that taxpayer, e.g. taxes paid, refunds issued, outstanding arrears, income disclose...

Read More
Posted Under: Income Tax | ,

Income Tax on Non Resident Indians (NRI)

Many Individuals from India have settled abroad. Moving to another country does not necessarily mean Good-Bye to the Home Country India. Many NRIs have invested in India in the form of Purchase of Mutual Funds, Life Insurance Policies, Shares, Securities, ancestral land/property, Unit Linked Insurance Plans (ULIPs), FCNR Fixed Deposit, ho...

Read More
Posted Under: Income Tax |

Now Instant PAN Card through Aadhar Only 5 to 10 Minutes

Now Instant PAN Card through Aadhar in Only 5 to 10 Minutes Step 1: Go to your browser and type https://www.incometaxindiaefiling.gov.in/ Step 2: Go to Quick Links section and click on Instant PAN through Aadhaar Link and next screen open Step No 3. Click on Get New PAN Step No 4.  Then following screen should […]...

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Posted Under: Income Tax |

Acceptance of PAN applications – Initials in Middle Name

Attention of all TIN-Facilitation Centers (TIN-FCs) is hereby invited to the procedure prescribed for accepting PAN applications. As you are aware, PAN applicants (individuals) are required to provide names (first name, middle name & last name) in expanded form in PAN applications submitted. Also, the supporting documents submitted as pro...

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Posted Under: Income Tax |

PAN-Aadhaar Linking Possible after 31st March 2020

According to the income tax department, PAN and aadhaar linking is possible even after 31st March 2020. Though there’s a twist here, this linking is possible on condition that the PAN will remain inoperative post the deadline till the date they link the 2 cards. New notification The central board of direct tax has issued a new notifi...

Read More
Posted Under: Income Tax |

How to surrender/Cancel extra /Additional PAN Online / Manually?

An assessee may have been allotted multiple PAN Card. The multiple PAN card may have been allotted to the Assessee for many reasons i.e. He may have applied multiple times for allotment of PAN and every time he has been allotted a PAN card or may have inadvertently allowed multiple PAN card by Income tax Department , NSDL or UTI. Assessee...

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Posted Under: Income Tax |

Online PAN based on Aadhaar

In #budget 2020 speech, our FM came up with the news of online allotment of PAN based on Aadhaar details (online PAN). The mechanism is implemented in less than 2 weeks of time by the Income Tax Department. Let’s know about who can avail, conditions, steps and many more… Who can get the online PAN?? […]...

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Posted Under: Income Tax |

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