Income Tax : Link your PAN with Aadhaar by May 31, 2024, to avoid higher TDS/TCS deductions and inactive PAN issues. Learn the consequences of ...
Income Tax : Discover the need for PAN allotment to Non Resident Indians appointed as CEOs of Indian companies. Learn about the process and req...
Income Tax : earn how to link PAN with Aadhaar, including deadlines, exemptions, and fee payment details. Ensure compliance with income tax reg...
Corporate Law : Discover how registering on NGO Darpan can amplify your NGOs impact. Government recognition, increased visibility, and easy access...
Income Tax : Explore the illicit use of PANs in House Rent Allowance (HRA) claims, revealed by the Tax Department. Understand HRA conditions, c...
Income Tax : Introduction: The Government of India, through the Ministry of Finance’s Department of Revenue, has provided essential updat...
Income Tax : The Income Tax Department has issued a clarification regarding the PAN-Aadhaar linking process, addressing difficulties faced by ...
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...
Income Tax : As per sec 139AA of income tax act 1961, every person who has been allotted PAN as on 01.07.2017 and who is eligible to obtain Aad...
Income Tax : Question of Government issuing any direction to CBDT to relax the PAN-Aadhaar linking norms does not arise....
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...
SEBI : Madras High Court rules on SEBI penalty case, stating that incorrect PAN doesn't exempt payment of interest. Legal analysis of the...
Income Tax : Read about ITAT Delhi's directive to Assessing Officer to investigate TDS claims and PAN misuse in case of Legend Transport Soluti...
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...
Income Tax : Consequences of PAN becoming inoperative: (i) refund of any amount of tax or part thereof, due under the provisions of the Act sha...
LETTER [F.NO. ADDL. DIT/INTL. TAXATION/2012-13] Jurisdiction over non-resident assessee lies with the AOs under administrative control of DGIT (Intl. Tax). It has been observed by DGIT (Intl. Tax.) that PAN of many non-resident assessees are lying with the AOs who do not have jurisdiction over them.
As per order passed by the ITO (TDS), he has issued show cause notice to know the reason why the assessee has not quoted the PAN of the deductee in Form No. 16 and 16A. But the assessee had not given any explanation before the ITO (TDS), even the assessee has also failed to appear before him on the date fixed.
In the instant case, the ITO(TDS) while going through the quarterly return in Form No.26Q, filed by the assessee noted that it has omitted to quote PAN/had quoted invalid PAN in 196 cases. As regards the reasonable cause,it was pleaded on behalf of the assessee that TDS was deducted and deposited in time in government Treasury. The default is only with regard to the wrong quoting of PAN of 196 of the deductees, such deductees quoted wrong PAN.
Income Tax Department has today enabled the password reset facility for alternate email ID also in addition to Registered EMail id. So now assessee can request password on alternate Email ID in addition to Registered Email ID. Message Hosted on Incometaxindia.gov.in in respect of Password reset is as follows :- In view of last date approaching and for timely resetting of password, users are advised to use “Forgot Password” utility on homepage for resetting password instead of e-mailing to validate@incometaxindia.gov.in
While complying with TCS rules for collection, payment and uploading of TCS information (E-filing of TDS returns), Jewellery dealers have to furnish PAN of customers. For Certain customers,it is not convenient to provide PAN as they may have constraints in explaining the source.In such cases to accommodate high net worth customers,unscrupulous traders have an easy source of benami PAN particulars from reserved railway passengers chart.
Verification Certificate under provisions of Rules 114(4) of IT Rules, 1962 of PAN (Individual / HUF) – A format has been prescribed for verification certificate under provisions of Rules 114(4) of IT Rules, 1962. An individual / HUF PAN Applicant who files certificate of MP / MLA / MC / Gazetted officer as proof of his / her identity or address is to file the same in prescribed format only.
Section 206AA of the Income Tax Act, which provides for furnishing a permanent account number, is contrary to Section 139A and discriminatory and therefore, read down from the statute for those persons, whose income is less than the taxable limit [A. Kowsalya & Others v. Union of India & Others (W.P 12780-12782/2010)]
In a writ petition filed by small investors, Karnataka High Court Held that provisions of Section 206AA of the Income Tax Act are contrary to provisions of Section 139A of the Act. Accordingly, provision of Section 206AA were made inapplicable to persons and was read down from the Act only for those persons whose income was less than the taxable limits. However, the High Court made it very clear that the provisions of the Section 206AA are applicable to the persons whose income is more than the taxable limits.
With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Foreign citizens will have to submit their ‘Application for allotment of new PAN’ in newly notified Form 49AA only. With effect from April 1, 2012, fees for PAN application has changed to 96. (For dispatch outside India 962).
With effect from April 8, 2012, PAN applications are required to be furnished in the new forms prescribed by ITD. Indian citizens will have to submit their ‘Application for allotment of new PAN’ in revised Form 49A only. Foreign citizens will have to submit their ‘Application for allotment of new PAN’ in newly notified Form 49AA only.
