Tag Archives: PAN

Take PAN and comply Rule 114B of Income Tax Rules 1962 : RBI to Banks

RBI/2016-17/135 DCM (Plg) No.1287/10.27.00/2016-17 November 16, 2016 The Chairman / Managing Director/Chief Executive Officer Public Sector Banks / Private Sector Banks/ Foreign Banks Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks Dear Sir, Withdrawal of Legal Tender Character of Specified Bank Notes – Compliance with provisions of 114B of the Income Tax… Read More »

ICAI asked members to update PAN Details

Update PAN Details. Only required for Practicing Members This refers to the earlier announcements of ICAI regarding the updation of PAN details by the members in the Institute’s records to avoid blocking of e-filing account by the Income Tax Department. Inspite of the earlier said announcements and reminder emails sent from time to time, it… Read More »

Revised Template Letter to communicate transactions without valid PAN

F.No. 225/193/2016/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi, the 25th of July, 2016 To All Principal Chief Commissioners of Income-tax Sir/Madam Subject: Corrigendum regarding the ‘Letter Template’ issued vide letter of Board dated 22.07.2016 in connection with handling of AIR transactions without valid PAN-regd.- Please refer to the above communique… Read More »

Paperless PAN and TAN application process

Paperless PAN and TAN application process: The CBDT announced a digital signature certificate-based application procedure to companies to apply via portals of Permanent Account Number (PAN) service providers. Under the new process, PAN and TAN will be assigned within one day after completion of a valid on-line application. Read a July 2016 report of KPMG

SOP for handling AIR transactions without valid PAN

F.No. 225/193/2016/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) North Block, New Delhi dated the 22nd of July, 2016 To, All Principal Chief Commissioners of Income tax Subject: Issue of Standard Operating Procedure (‘SOP’) for handling AIR transactions without valid PAN – reg.- Sir/Madam Kindly refer to the above subject. Directorate of… Read More »

Now PAN and TAN allotment in One Day !

New application process to fast track the allotment of PAN and TAN    For fast tracking the allotment of PAN and TAN to company applicants, Digital Signature Certificate(DSC) based application procedure has been introduced on the portals of PAN service providers M/s NSDL eGov and M/s UTIITSL.  Under the new process PAN and TAN will… Read More »

Fees for PAN Card

Application Fees for PAN Card As per NSDL, Application Fees for PAN Card 107/- (For dispatch of PAN card in India) 994/- (For dispatch of PAN card outside India) Both the above charges are inclusive of service tax   W. e. f. June 1, 2015, PAN application fees have been revised as under: For dispatch… Read More »

PAN Card number Questions and Anwers

PAN Card number or Permanent Account Number What is PAN card number ? PAN stands for Permanent Account Number. PAN is a ten-digit unique alphanumeric number issued by the Income Tax Department. PAN is issued in the form of a laminated plastic card (commonly known as PAN card). Given below is an illustrative PAN: ALWPG5809L Who… Read More »

Chartered Accountant/Firms to furnish PAN details to ICAI

The Institute of Chartered Accountants of India Announcement In terms of the decision taken by the Council following advice received from the Income Tax Department, the Permanent Account Number (PAN) Card details of the members and firm of chartered accountants are required to be included in the Central Database of the Institute. The members are… Read More »

PAN of shareholder in Government Company

PAN of shareholder in Government Company Query:  In case of a Government Company, the shares are held by the Government of India in the name of the Hon’ble President of India. As per the Business Rules, either CIN of shareholder or PAN of shareholder is Mandatory in case Country of incorporation or residence of shareholder is India.… Read More »