First things first: For those wondering if they need to reapply, the answer is no.
The link requires a person to punch in his PAN number, Aadhaar number and the exact name as given in the Aadhaar card.
It is not clear if banks will accept the card for opening accounts.
It is not clear if banks will accept the card for opening accounts.
FM's decision to make PAN card a neccessity for financial transactions has worried life insurers, who will find it difficult to tap rural India with this requirement.
The income-tax (I-T) authorities have tightened disclosure norms for charitable trusts. They now have to declare the nature of their activities from October 1 for tax purposes. The Central Board of Direct Taxes (CBDT) has notified changes in reporting rules where the charitable institutions have to mention whether the activities undertaken are charitable, religious, or both to claim tax benefits.
The Reserve Bank of India (RBI) has sent showcause notices to ICICI Bank, HDFC Bank and Axis Bank, the three private lenders named in the first of three Cobrapost 'sting' cases.
The permanant account number (PAN) will be the sole identification number for all stock market transactions from July 2, 2007.
With the deadline for furnishing details of permanent account number lapsing on December 31, a quarter of the 98.5 lakh (9.85 million) demat accounts will be frozen from January 1.
A Permanent Account Number (PAN) is one of the most important documents in the country today. It is an identification number which the Income Tax Department gives to all taxpayers.
The Comptroller and Auditor General of India report for 2010-11 on direct taxes, tabled in Parliament on Friday, revealed that 958 lakh (95.8 million) PANs were issued up to March 2010 but IT returns filed in the last fiscal were only 340.9 lakh (34.09 million).
The increased penalty, which is aimed at enhancing the surveillance mechanism for the stock market trades and discouraging the brokers from trading without submitting the PAN details of their clients, would come into effect from November 1, 2012.
Printing of Permanent Account Numbers for Income Tax payers have been outsourced to various agencies, Rajya Sabha was told on Tuesday.
The official added though this would be the last batch of letters this year, more PAN card holders would receive such notices from the income tax department next year.
Empowered CIB to play lead role in recovering tax evaded.
Empowered CIB to play lead role in recovering tax evaded.
The Sri Lankan Navy has arrested 32 Indian fishermen and seized five fishing boats for allegedly venturing into the island nation's territorial waters. This incident is the latest in a series of arrests of Indian fishermen by the Sri Lankan Navy for alleged illegal fishing activities. The issue of fishermen is a contentious one in the relationship between India and Sri Lanka, with past incidents involving firing at fishermen and seizures of boats. This latest incident follows an earlier arrest of 10 Indian fishermen earlier this month and an incident in January where five Indian fishermen were injured after the Sri Lankan Navy fired on them. India has expressed its displeasure regarding the use of force by Sri Lanka.
"The first step is getting your residential status changed in all documents, including Permanent Account Number (PAN) card for taxation, ration card, etc, which takes months and endless rounds to offices," says an exasperated Mehta, adding that getting oriented with the laws and regulations comes much later.
Importance of Permanent Account Number card has grown over the years.
"China is an absolutely impossible factor to ignore in what has been our confrontation with Pakistan," Tharoor said.
Verification process to be made robust after detection of frauds
First phase likely to cover 150,000 assesses; rest to be handled in a systematic manner in due course.
Currently, quoting the PAN is not mandatory for opening a bank account or buying an insurance policy.
It is sending letters to 35,170 PAN holders in the first phase.
On the consumer front, CIBIL is working towards simplifying the process of fetching credit scores -- it is tying up with a payment gateway which will help individuals fetch theirs scores online by making an online payment.
Permanent Account Number (PAN) has become a very important tool to the Income Tax Department in tracking high value transactions and ensuring compliance with the tax laws. Here's a how and why you should get it.
The income tax department is planning to withdraw a facility introduced last year for filing tax returns at around 2,000 post offices, owing to incomplete and inaccurate returns. Nearly 350,000 returns were filed through post offices last year.
With less than a week to go for the mandatory permanent account number requirement for all new investments in mutual funds to take effect, Securities and Exchange Board of India on Tuesday extended the deadline by another six months to December 31
The Mutual Fund Identification Number (MIN), mandatory for investments above Rs 50,000 in mutual funds, is likely to stay, even though the month-old confusion over it continues.
The development has elicited huge response from the country's top information technology companies. At least seven players, including Infosys, HCL, Tata Consultancy Services and its subsidiary CMC, are in the fray to develop a biometric card and the infrastructure that can handle 12 million new users annually.
PAN may also be required for cash payment of Rs 100,000 or more as life insurance premium, amid concerns that insurgents may be parking funds in high-value insurance policies.
Self-help groups with over 3,000 women members have helped propagate phulkari as a means of earning a livelihood.
The government has decided to issue biometric PAN (Permanent Account Number) cards to taxpayers across the country to weed out the problem of duplicate and fake ones.
The department feels that the non-quoting of PANs by deductees is creating problems in the processing of returns of income and in granting credit for tax deducted at source, leading to delays in issue of refunds.
The PAN card -- mandatory to be quoted for all financial transactions in the country -- is vying for a coveted public administration award conferred by the prime minister.
