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...
Dear Friends , I found this utility on the website www.saraltaxoffice.com. They are the one who come first with this utility and above all we can use it for free. Is there a way to validate your PAN? Is there any way to know what is the name corresponding to PAN? What should I do to register at e-Filing website, as I do not know the corresponding surname, first name, etc?
Companies and individuals who do not reveal their Permanent Account Number (PAN) while receiving income from any source will be liable to pay tax deducted at source (TDS) at the maximum marginal rate of 30 per cent (plus surcharge and education cess). Under the Income Tax Act, 1961, any income payable to the assessee is liable for TDS by the person or entity making the payment. TDS rate ranges from 1 per cent to 30 per cent depending on the nature of income. The Central Board of Direct Taxes is considering changes to the Act to this effect.
The government will soon introduce biometric permanent account numbers (PAN) for income tax payers, though initially only new applicants would be brought under its net, Finance Minister P Chidambaram said on Monday.
The Income Tax department had on 26.3.2008 advised all tax deductors to invariably quote PAN in their TDS returns in all cases wherein they have deducted tax and deposited it into the government account. This has been emphasized as non-quoting of PAN results in inability to give credit to the deductees while processing their cases.
The Income Tax Department has extended the last date for filing of tax returns for Tax Deducted/Collection at source for the second quarter of this fiscal to February 29. This measure is likely to provide a major relief to the employers, who could not submit their returns due to delay in clarification on employees stock options or other reasons.
The Income Tax Department is gearing up to use identity-search technology to manage the swelling data base of taxpayers, a move that will make tax evasion difficult and bring to book habitual defaulters. In order to effectively manage the database of taxpayers, the Director General of Income Tax (Investigation) has invited bids from companies for developing a software, which can undertake identity search of taxpayers across the country.
The Income Tax Department here has put on its website the list of income tax refunds of all salary tax payers which could not be sent to the concerned persons for want of correct address. Salary taxpayers who have not received refunds for assessment years 20034 to 20067 can long on to the website (www.incometaxindia.gov.in (mumbai region) and query using the PAN number and assessment year whether any refund due to them has been returned undelivered from the menu `undelivered salary refund management system’, an official release said on Monday.
All tax deductors / collectors are required to file the TDS / TCS returns in Form No.24Q (for tax deducted from salaries), Form No.26Q (for tax deducted from payments other than salaries) or Form No.27EQ (for tax collected at source). These forms require details of all tax deductions with name and permanent account number (PAN) of parties from whom tax was deducted.
The Income-tax Department is required to give credit for TDS based on the annual information in NSDL site. The assessee can register his PAN and view the status of TDS, advance tax and self-assessment tax (annual tax statement AS 26). Credit for TDS is given to deductees based on the returns submitted by the deductor. In the event of the returns being rejected for mismatch of challans or non- quoting of PAN numbers of some of the deductees, assessees have no remedy to get credit for TDS in the absence of rectification of returns by the deductor.
1. What Is PAN? Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department. Why Is It Necessary To Have PAN? It is mandatory to quote PAN on return of income, all correspondence with any income tax authority. From 1 January 2005 it will be mandatory to quote PAN on challans for any payments due to Income Tax Department.
