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 framework clarifies that relief from higher TDS/TCS applies only within specific timelines under CBDT circulars. PAN activatio...
Income Tax : Database mismatches can wrongly deactivate PAN for NRIs, resulting in higher tax withholding and significant capital blockage duri...
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 : Received an unknown PAN alert? Learn how to protect yourself! This article covers a taxpayer's recent dilemma with unauthorized PA...
Income Tax : The Court directed the jurisdictional authority to consider the delay condonation request after PAN transfer. It held that the app...
Income Tax : The High Court recorded that the new PAN had been cancelled and directed the petitioner to apply for restoration of the old PAN. T...
Income Tax : The ITAT relied on orders under section 148A(d) for subsequent years where reopening was dropped, holding the assessee to be a loc...
Income Tax : The tribunal allowed a remand where unexplained cash deposits were added based on a PAN-linked account. The key takeaway is that e...
Income Tax : The Court directed issuance of a new PAN after a duplicate allotment caused the petitioner’s financial record to be linked to an...
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...
Please read this article as a deductee to get more clarity. While making foreign remittance we deduct TDS whether as per Income Tax Act,1961 or as per DTAA or provide the benefit of DTAA, whichever is more beneficial to assessee. Case-1: If we are taking benefit of DTAA: 1. Section 90(4) of the Income Tax […]
As we know when we need for PAN, we apply for it through UTI / NSDL or any other media. But recently on 13th Feb. 2020, the Income Tax department brings a facility for Instant PAN allotment in near to real-time which is available free of cost. This facility is based on Aadhaar, which is […]
Understand the penalty for non-compliance with PAN provisions. Learn about the implications of section 272B of the Income Tax Act and the amount of penalty payable.
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.
There are discrepancies, in many cases, in respect of spellings, date of birth, phone number, address, etc. in the data of PAN and Aadhaar, it becomes practically not possible to link Aadhaar with Income tax e-return filing site in such cases.
CBDT vide Notification No 11/2020 dated 13.02.2020 speaks out the following 3 things in respect of PAN becoming inoperative if not Linked with Aadhar by the 31st of March, 2020 –
1. Apply Free PAN on the basis of Aadhaar: Central Board of Direct Taxes (CBDT) inserted new facility of PAN allotment on the basis of Aadhaar card. Finance Minister Nirmala Sitharaman announced this new facility apply for instant PAN in her speech of Union Budget 2020. Now, Instant PAN allotment in near to real time is […]
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 July, 2017 and is required to intimate his Aadhaar number […]
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.
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
