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...
Income tax department has released a new form for New PAN Card or/And Changes or correction in PAN Data. the new form is simple then earlier form 49A and easy to fill. the form also have column to fill AADHAAR.number for the applicants who already have one.
Recently I have faced a very interesting situation. I have to file ITR of one of my client online. My client is a HUF and his turnover is more then Tax Audit limit so as per Recent Income tax circular, I was required to file his Income Tax Return online. While filling ITR I needed his date of birth or say incorporation date so I checked his PAN card to know the same as per Income Tax Record, when I checked the PAN card the date of birth mentioned on it was for my surprise written as ,ANCESTRAL,.
Citizen of India/ Foreign Citizens located in India / Located Outside India at the Time of Application for PAN. For Categories other than Individuals i.e. Firm, BOI, HUF, AOP, AOP(Trust), Local Authority, Company, Artificial Juridical Person – Having Office of their Own in India / Having No Office of their Own in India. Proof of Identity and Address
Important information for persons making application for a new PAN card / corrections (Request for Reprint of PAN Card or/ And Changes Or Correction in PAN Data). Do not overwrite or make corrections by canceling any data in the application. Do not pin or staple the photograph.Do not sign across the box (i.e. signature should not be spread outside the box).
Instructions for Filling the Form 1. Full Name Please select appropriate title. Individuals must state full expanded name. If Last Name and Middle Name are entered, then applicant must enter First Name also. Do not use abbreviations and initials For example, Poonam Ravi Narayan should be written as: Last Name/Surname First Name Middle Name NARAYAN […]
The provision relating to Permanent Account Number in the Income Tax is of immense importance to the taxpayers as quoting of PAN has been made mandatory for most of the financial transactions. The Department has been receiving a number of queries relating to PAN-particularly question on procedures for PAN application, documents required for PAN application […]
ITO (TDS) Panchkula Vs. Bharat Electronics Ltd. (ITAT Chandigarh) it is apparent from the record that the assessee deducted TDS correctly and revised the PAN and filed revised statement in Form No. 26Q, hence there was sufficient compliance of the provisions of section 139A of the Act. Even otherwise the assessee did not derive any benefit whatsoever, by filing the wrong PANs and PAN was corrected after ascertaining the same from the respective deductees. In our view the assessee has proved that there was reasonable cause for alleged failure and hence no penalty is leviable
Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country.A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its officials to launch a special drive against those who have “not furnished their PAN (Permanent Account Number)” while entering into high value transactions.
The following persons should apply for allotment of PAN in Form 49A‑ Every person whose assessable income exceeds the maximum amount which is not chargeable to tax or any person carrying out business or profession whose total sales/turnover is likely to exceed Rs 5,00,000 in a year. A person who is required to furnish return under sub-section (4A) of section 139. An employer who is required to furnish return of fringe benefits tax. The Central Government has power to specify by notification any class or classes of persons by whom tax is payable under the Income-tax Act or any tax or duty is payable under any other law for the time being in force.
last date for filing form DIN-4 by DIN holders for furnishing their Income tax PAN and to update Income- tax PAN details has been extended up to 29th February, 2012. For details kindly see General Circular No: 70/2011 given below:-
