Finance Minister P Chidambaram has announced that soon biometric PAN cards may be issued to reduce chances of duplication and to ensure better tax compliance.
The move is being viewed as an effort by the government to expand the taxpayer base.
If life has become a little less taxing, thank the reform measures initiated by Finance Minister Jaswant Singh in tax administration.
This is the eighth time that the CBDT has extended the deadline for individuals to link their PAN with Aadhaar.
The Securities and Exchange Board of India (Sebi) on Thursday allowed companies to offer up to 10 per cent discount to retail investors in initial public offers. The discount was so far restricted to follow-on offers. Sebi has also redefined the term 'retail investor' as one who makes application or bids in a public issue for value not exceeding Rs 1,00,000 - up from the existing Rs 50,000 and above.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
The finance ministry on Thursday appointed National Securities Depository Ltd to provide PAN cards to new taxpayers in 139 cities from next week.
Baby girl Akshita, born on June 20, 2007, received the card on August 3 when she was just 44-day-old.
Rise in raids on illicit drug manufacturing units, alongside arrests for the production, sale, or distribution of spurious or adulterated drugs.
The online tax payment feature will be extended to all credit cards directly through the website www.incom-etaxindia.gov.in
Employees should review the accuracy and completeness of the information provided in Form 16. They should confirm that all the tax deducted has been credited correctly.
The government on Tuesday warned the estimated 13 lakh (1.3 million) duplicate Permanent Account Number card holders of a penalty of Rs 10,000 if they do not surrender these by the December 31 deadline.
I-T dept to outsource PAN card allotment
With the new facility, settling PF withdrawal claims would just take few hours.
Individuals can now get a new Permanent Account Number through Aadhaar-based e-signature facility.
It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
Agitating junior doctors in West Bengal continued their fast-unto-death for the third consecutive day on Monday, demanding justice for the rape and murder of a woman medic of the RG Kar hospital and workplace safety even as the state government remained silent to address their issues.
United States President-elect Donald Trump on Tuesday announced the nomination of popular Fox News host and Army veteran Pete Hegseth, 44, as his defence secretary.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
The government in Budget 2017 has already mandated seeding of Aadhaar number with Permanent Account Number to avoid individuals using multiple PANs to evade taxes.
Officials are relying on both formal and informal methods for reaching non-filers.
The Central Board of Direct Taxes has issued a notification expanding the list of documents admissible as proof of identity and address by including Aadhaar Card. Aadhaar is a 12-digit individual identification number issued by the Unique Identification Authority of India on behalf of the government of India.
A single security lapse could lead to complete wipe out of your crypto assets in seconds, with no recovery in sight, warns Nikhil Sethi.
The Supreme Court on Tuesday cleared the hurdle for the release of activist Gautam Navlakha from Navi Mumbai's Taloja prison, where he is lodged in the Elgar Parishad-Maoist link case, by waiving the requirement of a solvency certificate for availing the benefit of house arrest.
Kanimozhi had challenged a Madras high court order which had refused to dismiss the petition against her.
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion. At present, disclosure of crypto holdings and related gains is voluntary. If tax authorities go ahead with the PAN mandate, crypto exchanges will have to furnish a statement of financial transactions (SFT) before the income-tax department.
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