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...
Deciphering a Comparison of Permanent Account Number (PAN), Tax Deduction and Collection Account Number (TAN), Goods and Services Taxpayer Identification Number (GSTIN) and Taxpayer Identification Number (TIN) Basis Expansion PAN Permanent Account Number GST Number / GSTIN Goods & Service tax Number / Goods & Service Tax Identification number TAN TIN Tax Deduction & Collection […]
Article contains FAQs on to Instant E-PAN and contains stepwise Guide for How to Generate New e-PAN, How to Update PAN details as per Aadhaar e-KYC, How to Check status of pending e-PAN request / Create e-Filing Portal account / Download e-PAN and how to Download e-PAN – Post Login. Instant E-PAN- FAQs Q.1 I […]
FAQs on How to Know Your Assessing Officer (AO) on New Income Tax Portal Q.1 Who is an Assessing Officer (AO)? Ans. An Assessing Officer (AO) is an officer of the Income Tax Department who is responsible for ensuring correctness of Income Tax Returns filed by the taxpayers in his/her jurisdiction. Q.2 When do I […]
How to Verify your PAN on New Income Tax Portal – FAQs Q.1 Why do I need to verify my PAN? Ans. You can verify your PAN to: -Check if the details of your PAN, such as name on the PAN card, date of birth are same as the details available in the PAN database. […]
How to check linking of PAN with Aadhaar for your clients (even in cases where Aadhaar is not available) As per upcoming section 139AA of Income Tax Act, in case where a person who has been allotted PAN as on 1st July 2017 and who is also eligible to obtain Aadhaar number has to link […]
Addressing a webinar of SME Street Game Changers Forum this evening, Shri Gadkari said that now only PAN and Aadhaar will be required for registration of MSMEs.
This article deals with section 206AB of The Income Tax Act, 1961 which is going to be effective from 1st July, 2021. The practice of putting some other date instead of first day of the financial year from which the amendment could apply seems to be unexplainable and such provisions coming into effect from such date (not from the first day of financial year) also do not caution the taxpayers clearly in advance on smooth application of the provisions.
Linking of Aadhaar with PAN (Permanent Account Number) is a mandatory requirement under Income Tax Act 1961. If a person fails to link Aadhaar with PAN by the prescribed last date, a penalty of Rs1000 for the non-linkage will be charged, and also, his PAN will become inoperative – Section 234H inserted vide Finance Act […]
What is PAN? PAN stands for Permanent Account Number. It is a unique 10 digit alphanumeric number, the first five being alphabets followed by four numbers and ending with one alphabet allotted by the Income Tax Department of India. Know your 10 Digit PAN Card Number Details The first three letters of the ten-digit are […]
Section 206AB changes as applicable from July 1,2021 -Declaration on filing of tax return for past years and linking of PAN with Aadhaar Government of India vide Finance Act 2021, has introduced a new section 206AB under the Act wherein a buyer is responsible to deduct TDS at higher rate (i.e., twice the rate as […]
