Category: Pan Card

PAN card issued by the Income Tax Department of India is a mandatory requirement to file Income Tax Returns or to make banking transactions exceeding Rs. 50,000. Moreover, PAN card is also considered as one of the important identification documents for opening a bank account, purchasing a property, investing in mutual funds, applying for a...

Permanent Account Number (PAN) is a mandatory requirement for almost all Indian citizens and commercial entities, especially those who pay income tax and are identifiable under the Income Tax Act, 1961. It’s a 10-digit unique alphanumeric identification code through which all the monetary transactions are tracked. Hence,  it helps to reduce tax evasion by keeping…

The Income Tax Department has changed the design of the PAN card. It has made a few additions to it to make it more user-friendly and secure. The IT Department has started providing new PAN cards post July 7, 2018. It is worth noting that PAN cards issued prior to the aforementioned date will also...

In good news for those who had not been able to link their PAN card with Aadhaar, the Central Board of Direct Taxes (CBDT), working under the Central Government has yet again extended the deadline. Taxpayers have now got time till 31st March 2020 to link their PAN cards with Aadhaar. Earlier, the deadline was set…

Permanent Account Number commonly called PAN is one of India’s official documents of identity proof which is used by all the income-earning individuals or non-individuals. Also, it can be further accessed by the students who are above 18 years of age. The government of India has made it mandatory for all the individuals to possess…

Government of India has now made mandatory to possess PAN card for every income-earning individual and non-individual entities. It consists of 10-digit alphanumeric code which is unique to the holder of the card. To keep an eye over the financial transactions Income Tax Department of India has allowed domestic as well as foreign investors to…

PAN (Permanent Account Number) is a unique 10 digit alphanumeric code assigned to all taxpaying entities in India. It is also issued to foreign nationals who are entitled to pay taxes to the Indian Government. The government has now made it mandatory for people to link their PAN with bank accounts to do transactions through...

With effect from 1 January 2016, you would have to furnish your Permanent Account Number (PAN) for all transactions above Rs 2 lakhs, irrespective of the mode of payment adopted. This decision by the Indian Finance Ministry is a relaxation from the initial proposal made by Arun Jaitley during the 2015-16 Budget, wherein he motioned...