Tag Archives: PAN Card

11 Lakh PAN card deactivated by Income Tax Department

By | August 2, 2017

Mandating Aadhaar linkage to PAN cards  Permanent Account Number (PAN) is the key identifier of taxable entity and aggregator of all financial transactions undertaken by one person. One PAN for one person is the guiding principle for allotment of PAN. However, for achieving the objective of one PAN to one assessee it is required to… Read More »

Non Resident not having PAN ,Relaxation from Higher TDS by Govt

By | June 28, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24 th June, 2016 INCOME-TAX S.O. 2196 (E).— In exercise of the powers conferred by clause (ii) of sub-section (7) of section 206AA,… Read More »

Pan Card Mandatory for all Transactions

By | February 27, 2016

Pan Card Mandatory for all Transactions The Government vide notification S.O. (3545)(E) dated 30.12.2015, has made quoting of Permanent Account Number (PAN) mandatory for all transactions (irrespective of the mode of payment) of sale or purchase of goods or services of any nature exceeding rupees 2 lakh and for other specified transactions with effect from… Read More »

20 Transactions for which PAN card is mandatory

By | December 16, 2015

Rules regarding quoting of PAN for specified transactions amended The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a… Read More »