PAN

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 without aadhaar = invalid PAN

Income Tax - The Government has mandated use of Aadhaar Number in most of the Subsidy Schemes where the benefit of Subsidy is directly transferred to beneficiary instead of the earlier practice of through Suppliers. This has resulted in plugging leakages in Subsidies...

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PAN mismatch during GST migration- Problems & Solutions

Income Tax - Since enrolment application went live,of many issues,one particular issue that has been reported in significant numbers was pertaining to PAN validation of taxpayers,required to be done after the application is submitted with either e-signature or DSC.GSTN has investigated many such issues and have taken certain steps to help tax payers m...

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No need to file PAN-TAN application in Form 49A/49B after filing SPICe e-forms: MCA

Income Tax - With effect from 6PM of 4th November 2017, stakeholders will NOT be required to upload signed 49A/49B using Submit application for PAN/TAN service, in respect of any fresh SPICe submission or Resubmission cases. PAN and TAN will continue to be issued as before based on the details submitted in the SPICe form itself. ...

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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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Revised PAN/ TAN application & TCS/TDS filing charges from July 1, 2017

Income Tax - With effect from July 1, 2017, all the TIN-FC may collect the fees as per the following schedule from deductors/collectors/ filers/Accounts Officers/applicants along-with GST and other levies as applicable as clarified in the circular- NSDL/TIN/2017/009.: S. No. Particulars Existing charges (Inclusive of 14% Service Tax, 0.50% Swachh Bh...

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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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Income Tax dept. Reactivates of link ‘Know your PAN/TAN/A.O.’

Income Tax - Some recent changes were reported by the members at the E filing website of the Income-tax department due to which the link ‘Know your PAN/TAN/A.O.’ was not directly accessible. ...

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Petition changing linking of Aadhaar with PAN withdrawn as issue already been decided by SC

Binoy Viswam vs. Union of India (Supreme Court of India) - Supreme Court questioned the maintainability of the petition filed by CPI Leader in which he challenged the provisions of section 139AA of the Income Tax Act,1961 which mandates linking of Aadhaar with PAN number for filing income tax returns (ITR). The petition was later withdrawn by the counsel a...

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Madras HC allows filing of IT return without insistence on Aadhar

Preeti Mohan Vs Union of India (Madras High Court) - Preeti Mohan Vs Union of India (Madras High Court) The petitioner before this Court is a practicing advocate and she has filed this writ petition praying for a direction to the ITO to allow her to file income tax returns for the assessment year 2017-18 either manually or through e-filing facility wi...

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Limitation of permitting correction of only four characters of PAN in TDS return is not justified

Purnima Advertising Agency Pvt. Ltd. Vs. Dy. CIT (Gujarat High Court) - Where on account of an inadvertent error, PAN of the deductee was wrongly mentioned by assessee, in TDS return, AO was not justified in not permitting the assessee to correct PAN of the deductee, putting the limitation of permitting corrections of only four characters. The case was, therefore, reman...

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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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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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Allotment of PAN through a common application form

Notification No. 09/2017-Income Tax - (09/02/2017) - An applicant may apply for allotment of permanent account number through a common application form notified by the Central Government in the Official Gazette, and the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the classes of persons, ...

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RBI instruct banks to Comply Rule related to Quoting of PAN

RBI/2016-17/135 DCM (Plg) No.1287/10.27.00/2016-17 - (16/11/2016) - With a view to ensure compliance with provisions of 114B of the Income Tax Rules, 1962, the banks are advised as under: Anybody depositing more than ₹ 50,000/- in cash in their bank account has to submit a copy of the PAN card in case the bank account is not seeded with PAN...

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PAN’s Popular Posts

Recent Posts in "PAN"

Petition changing linking of Aadhaar with PAN withdrawn as issue already been decided by SC

Binoy Viswam vs. Union of India (Supreme Court of India)

Supreme Court questioned the maintainability of the petition filed by CPI Leader in which he challenged the provisions of section 139AA of the Income Tax Act,1961 which mandates linking of Aadhaar with PAN number for filing income tax returns (ITR). The petition was later withdrawn by the counsel appeared on behalf of the petitioner. Sup...

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Madras HC allows filing of IT return without insistence on Aadhar

Preeti Mohan Vs Union of India (Madras High Court)

Preeti Mohan Vs Union of India (Madras High Court) The petitioner before this Court is a practicing advocate and she has filed this writ petition praying for a direction to the ITO to allow her to file income tax returns for the assessment year 2017-18 either manually or through e-filing facility without insisting for production […...

Read More

No need to file PAN-TAN application in Form 49A/49B after filing SPICe e-forms: MCA

With effect from 6PM of 4th November 2017, stakeholders will NOT be required to upload signed 49A/49B using Submit application for PAN/TAN service, in respect of any fresh SPICe submission or Resubmission cases. PAN and TAN will continue to be issued as before based on the details submitted in the SPICe form itself. ...

Read More
Posted Under: Income Tax |

Limitation of permitting correction of only four characters of PAN in TDS return is not justified

Purnima Advertising Agency Pvt. Ltd. Vs. Dy. CIT (Gujarat High Court)

Where on account of an inadvertent error, PAN of the deductee was wrongly mentioned by assessee, in TDS return, AO was not justified in not permitting the assessee to correct PAN of the deductee, putting the limitation of permitting corrections of only four characters. The case was, therefore, remanded....

Read More

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 |

Revised PAN/ TAN application & TCS/TDS filing charges from July 1, 2017

With effect from July 1, 2017, all the TIN-FC may collect the fees as per the following schedule from deductors/collectors/ filers/Accounts Officers/applicants along-with GST and other levies as applicable as clarified in the circular- NSDL/TIN/2017/009.: S. No. Particulars Existing charges (Inclusive of 14% Service Tax, 0.50% Swachh Bh...

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 |
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