Income Tax : Discover essentials of PAN (Permanent Account Number) issuance, structure, and changes. Learn about Form-49A and Form-49AA require...
Goods and Services Tax : A PAN card is mandatory for GST registration, tax filing, and TDS compliance in India. Learn how non-compliance can lead to penalt...
Income Tax : A PAN (Permanent Account Number) is a unique 10-character alphanumeric identifier issued by the Income Tax Department of India to ...
Income Tax : The Income Tax Department (ITD) is upgrading the existing PAN card systems in India through a new e-governance project called PAN ...
Income Tax : PAN 2.0 project aims to simplify services, improve security, and provide a unified platform for all PAN/TAN-related services, enha...
Income Tax : Taxpayers face TDS demands post Aadhaar-PAN linking despite compliance. Key issues include undue demands, lack of redressal, and r...
Income Tax : PAN 2.0 focuses on process upgrades for taxpayers with no mandatory new PAN card. Existing cards remain valid. Estimated cost: ₹...
Income Tax : The PAN 2.0 Project simplifies PAN/TAN management with a unified platform, paperless processes, and faster services. Approved by C...
Income Tax : Cabinet approves PAN 2.0 project to enhance taxpayer registration services through technology-driven transformation, improving ser...
Income Tax : Starting October 2024, Aadhaar Enrolment ID can no longer be used for PAN applications or income returns. Quoting Aadhaar numbers ...
Income Tax : Jammu & Kashmir High Court directs tax authorities to correct PAN errors in challans and release pending refund to Kashmir Tubes. ...
Income Tax : ITAT directs fresh examination in Ambasa Babansa Raibagi case due to PAN linking error, remitting the Rs. 25.66 lakh addition back...
Income Tax : Madras High Court directs approach to appellate authority for a bank attachment notice issued over PAN fraud, pending statutory ap...
Income Tax : ITAT Jodhpur rules that possession of transport vehicles is sufficient for Section 194C TDS exception, emphasizing the significanc...
Income Tax : Learn about Bombay High Court's Quashing of Reassessment notice by the Tax Department against a non-existent entity with an active...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
SEBI : SEBI issues circular on restricting trading by Designated Persons (DPs) through PAN freezing at security level for the top 1,000 B...
SEBI : NSE has recently issued a circular clarifying the implementation of the Securities and Exchange Board of India’s (SEBI) regu...
Income Tax : Rule 114AAA of the Income-tax Rules, 1962 related to Manner of making permanent account number (PAN) inoperative is applicable fro...
Income Tax : Central Board of Direct Taxes (CBDT) has extended the last date to link Permanent Account Number (PAN) with Aadhaar to June 30, 20...
(i) We hold that the Parliament was fully competent to enact Section 139AA of the Act and its authority to make this law was not diluted by the orders of this Court. (ii) We do not find any conflict between the provisions of Aadhaar Act and Section 139AA of the Income Tax Act inasmuch as when interpreted harmoniously, they operate in distinct fields.
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.
As per the Finance Act 2017, it becomes mandatory for taxpayers to quote Aadhaar or enrolment ID of Aadhaar application form for filing of income tax returns . Further Aadhaar also has been made mandatory for applying for PAN with effect from July 1, 2017.
The Income Tax Department has made it easy for taxpayers to link their PAN with Aadhaar. It was reported that taxpayers were finding it difficult as their names did not match in both systems (Eg. Names with initials in one and expanded initials in another). Responding to such grievances,the Dept has come out with a […]
It has been informed by the Income Tax Department that the e-Filing account of the members, who have not provided their PAN details to the Institute but are using e-filing account with Income Tax Department, will be blocked by the Income Tax Authorities after April 30, 2017 in case the same is not updated.
As per procedure put in place a reasonable number of PAN allotment requests are being marked as probable duplicate by the system, during process of allotment of PAN, which has to be resolved by respective Regional Computer Centres (RCCs) and a decision is taken by matching details of already allotted PAN and new PAN request to either allot a new PAN or mark the request for allotment of PAN as duplicate request.
CBDT has tied up with Ministry of Corporate Affairs to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in 1 day.
As per the newly inserted Section 139AA of the Finance Act 2017, if a person covered under this section want to file a return of income on or after July 1, 2017, it will be mandatory for him to quote the Aadhaar number in the return.
CBDT has extended time to furnish permanent account number or Form No. 60 by bank account holders who have not furnished the same at the time of account opening or subsequently to on or 30th day of June, 2017.
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.
