Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
Income Tax : The guide explains Sections 206AA and 206AB, detailing higher TDS consequences for non-furnishing of PAN and return-filing default...
Income Tax : India’s new PAN compliance framework introduces stricter documentation and verification requirements for NRIs and foreign entiti...
Income Tax : The issue involves stricter PAN application requirements removing Aadhaar-only filings. The key takeaway is that additional identi...
Income Tax : The government introduced new PAN forms to simplify application procedures and reduce errors. The update ensures better user exper...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : Rule 157 of the Draft Income-tax Rules, 2026 exempts specified non-residents and eligible foreign investors from obtaining PAN, su...
Income Tax : Rule 158 of the Draft Income-tax Rules, 2026 prescribes detailed PAN application forms, timelines, document requirements, and Aadh...
Income Tax : Draft Rule 159 mandates quoting or applying for PAN in specified high-value banking, securities, property and cash transactions, w...
Income Tax : PAN 2.0 to simplify PAN/TAN processes with tech upgrades. Project to launch in 18 months post MSP onboarding. India has over 81 cr...
Income Tax : ITAT Guwahati held that additions could not be sustained where the transactions related to a separate partnership firm with a diff...
Income Tax : ITAT Agra held that reassessment proceedings framed using a PAN surrendered years earlier were invalid. Since the assessment was b...
Income Tax : The Court held that although notices were sent to the address available in PAN and passport records, the reassessment order could ...
Income Tax : The Tribunal held that delay in filing appeals was justified where the assessee had shifted to a new PAN and filed returns under i...
Income Tax : ITAT Delhi held that higher TDS under Section 206AA applied where the seller’s PAN was not linked with Aadhaar. However, the Tri...
SEBI : SEBI issued clarifications after revised PAN application forms under the Income-tax Rules, 2026 created compliance challenges for ...
Income Tax : The CBDT has introduced new forms for PAN correction to ensure a uniform process. Taxpayers must now use designated forms for accu...
Company Law : The adjudicating authority penalised a company and its directors for failing to disclose allottees’ PAN in Form PAS-3. The order...
Income Tax : CBDT Circular 9/2025 offers partial relief for higher TDS/TCS on inoperative PANs, extending compliance deadlines for taxpayers wh...
Finance : NPCI mandates NACH banks to integrate a Real-Time PAN and Bank Account Validation API for government use, including the Income Tax...
According to the startup statistics India stands second highest number of startups which seems to be increasing day by day. Given that it becomes necessary to make sure they are following the necessary legal obligations. Not complying with laws can negatively affect the company as the damages can be huge and it also impacts the […]
Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022. The due date for completion of penalty proceedings under the Act has also been extended from 30th September, 2021 to 31st March, 2022.
No. FS-13/7/2020-FS Government of India Ministry of Communications Department of Posts (F.S.Division) Dak Bhawan New Delhi-110001 Dated: 15.09.2021. To, All Head of Circles/Regions, Sub: – Deduction/Non-deduction of TDS in SCSS accounts in CBS post offices reg. Sir/Madam, This office is receiving various representations from the SCSS account holder(s) that CBS post offices are either not […]
Provisions of section 234H of the Income Tax Act are recently inserted vide the Finance Act, 2021. Accordingly, section 234H is made effective from 1st April 2021. It deals with the late fees payable on account of failure to intimate the Aadhaar number to the Income Tax Department (i.e., link the PAN with Aadhaar). The […]
Learn how to link PAN with Aadhaar in the new e-filing portal and understand the benefits and applicability of filing income tax returns.
AADHAR – PAN LINKING As per Section 139AA of the Income Tax Act, every person who has PAN as on July 1, 2017, is required to link his/her PAN with his/her Aadhaar number within the due date notified by the government provided such person is eligible to obtain an Aadhaar number. Also, every person who is […]
1. A new section 206AB is introduced in the Finance Act 2021 for deduction of tax at source at higher rates to identify non-filers of Income Tax Returns. These defaulters will be identified and higher Tax Deducted at Source (TDS) be levied on them. Section 206AB is applicable w.e.f. 01 July 2021 This section mandated […]
Article explains Documents required/checklist for GST registration of Proprietorship, Partnership, Hindu Undivided Family,Limited Liability Partnership, Public Limited Company/Private Limited Company/Unlimited Company, Society/Club/Trust/AOP/BOI and Government Department/Local Authority/Statutory Body. The following documents are required to obtain GST registration depending on the types of business or constitution. Documents required/checklist for GST registration of Proprietorship (1) Aadhaar Card of Proprietor (2) […]
FUNCTIONALITY TO CHECK MISUSE OF PAN To address the complaint related to misuse of PAN for obtaining GST registration, a functionality to register such complaints on GST Portal has been introduced. It will check the misuses, control the frauds and help officers in enquiry and cancellation of such registration. Once complaint is registered, it will […]
Many times, it happens when one starts a business, fulfils all the necessary compliances, takes all the necessary registration required to start a business. But during the course of business, it happens that one needs to close a business or wind up the company or one is forced to close a particular division of the […]
